IXR ( IMX Resources ) A new diversified metal mining house

[tricha]

MD Duncan McClean - at the AMEC Investor Presentation

I was very impressed by Mr McClean's presentation. Very well spoken and knowledgable, with a good mining pedigree. Spent a few hours researching them since and yes,tentatively pushed the buy button.
(tentatively because I do not know enough about them yet to get a really good feel)

Jewels in their crown [:p]

1 - Uranex 43.5% owned by GDM went into trading halt, Friday. They are heavily into U with great prospects and drilling results in Tanzania.
Now valued at around 65 million to GDM ...... get the picture.

2 - They are now splitting off their new nickel province in Tanzania, will hold 51%, listing on the TSX, with an ex Falcobridge management team.

3 - Cairn Hill 16mt defined magnetite deposit, 47.2% FE, .43% Cu, .17% Au
Top deposit, direct ship to China to process, trials done, long story.

4 - They have vast tenements on the same line as Olympic Dam and Prominent Hill.
A magnetic survey have defined a hot spot better than Olympic Dam.

Thats the big picture http://www.goldstreammining.com.au

Any views on this one appreciated, as my knowledge of this one is extremely limited [?][?][?][?]

Cheers [B)][}:)]

P.S high risk, but very high reward!

[tricha]

Time will tell tomorrow, with Uranex, management recently back from China! Hence why I'm gambling on GDM being a cheap entry vehicle.[}:)]


Uranium: A Question of Time

By Bob Kirtley
February 7, 2007

www.uranium-stocks.net



The British government recently announced its interest in the need for more nuclear power plants, so where will they get their Uranium?

I recently had the honour of attending the BBC’s television show called Question Time, held in Canterbury, England. The panel was made up of politicians including Ken Clark, Simon Hughes, Harriett Harman, author Frederick Forsyth and another lady who is a member of the House of Lords whose name escapes me. Of the many topics that the programme tried to cover, the nuclear energy topic was the least understood, in my opinion. Simon Hughes a Liberal Democrat wanted to have a long, free and frank discussion about nuclear energy and Ken Clark a Conservative wanted to avoid another oil crises similar to that of the seventies. Time apparently is not a problem. No one mentioned the following relevant factors:

1. We are using uranium at twice the speed we are producing it. The short fall is currently being filled by the dismantling of old nuclear warheads that will dry up shortly.

2. The demand for energy from China, India and Asia is rocketing along with their fast paced modernisation programmes for 3 billion people

3. Oil is in short supply and the oil that is available is vulnerable to a possible war or crisis in the Middle East.

4. Coal is dirty, although there are various coal to oil gasification possibilities none currently being used have been proven to work effectively.

5. Wind farms: how many, where and when? Wind simply does not have the power to compete with nuclear energy. Also even if all the suitable areas for wind farms in the United Kingdom were used, it would still only produce 10% of Britain’s power demands.

6. The price of Uranium has risen from $6.40 a pound to $75 a pound as we write. Why? Could it be that old economic factor DEMAND?

In Queensland Australia where I once lived and worked it is against the law to mine the old yellow cake at the moment. This has not stopped the Chinese doing massive deals to lock in the potential supply if and when the law should change and it will. Has anyone noticed that China has stopped the exportation of a number of metals for example tungsten? If you were in charge of China would you state the true number of nuclear plants that you are going to build and risk causing a stampede to buy uranium? No, you would first secure your supply of uranium far out into the future and then you would quietly tell the world. This isn’t difficult is it? They should be applauded for their vision in these matters.

So, where does all this leave us? Well dear readers we are on the verge of some major consolidation in this market. Each nation, as it awakens to this new crises will flex its own financial and political muscle, as we have never seen before. We believe that we are looking at a uranium price of $200.0 plus in the near future. This will drive the price of uranium stocks through the roof and into uncharted territory. If you thought that DOT COM was a boom get into position and hang on for fortunes will be made, possibly exceeding those to made in gold and silver.

On this site (http://www.uranium-stocks.net/) we share with you our thoughts, analysis, anxieties, our purchases and sales. We will also record our progress so that you are fully aware of which uranium stocks we investing in and why. Do your own due diligence before you put your hard earned cash on the table.

Finally, please feel free to put your comments on our website as this will add balance to the Mother of all Debates, the Coming Ur

[tricha]

"Time will tell tomorrow, with Uranex"

It told, but not quite the result I wanted to hear.

Neverless it still went up and Goldstream is looking a great spectulative stock and an entry point into Uranium.

Cheers [B)][}:)]

[tricha]

Any views on this one appreciated, as my knowledge of this one is extremely limited [?][?][?][?][?] Has anyone come across the directors[?][?]

DIRECTORS
D.R. McBain
(Chairman and Managing Director)
G.J. Wallace FCPA, FTIA, MAICD
T.A. Robson CA, ACIS, CPA, FTIA

As in holding any share, management are an absolute key, so I sent Mr McBain an email and got a prompt reply. They are onto it!

Tony

Thanks for your email.

On the website I could not agree with you more - believe me I am not happy with what we have got. We started last year in July trying to get a new website up with a particular set of people who also did our annual report. We have just terminated them for the website as we were not making any progress.

We have engaged another group recommended to us by Purple Communications who assist us with PR and hope to have something progressively up and running starting within the next 2 weeks.

I have felt frustrated by the lack of progress on the website as it is our window to the world, and hope in the note too distant future to have something of which I am proud & that I do not feel a need to apologise for.

Kind Regards
Duncan McBain


--------------------------------------------------------------------------------

Sent: Sat 17/02/2007 10:00 AM
To: Duncan McBain
Subject: Goldstream Mining


Hi Duncan

Thanks for your prompt reply after attending your presentation at AMEC .

I was impressed with your company and your presentation and took the plunge and bought some shares.

I was trying to research the board and management off your web site, there do not appear to be a profile listing, also the 2006 annual report seems to not be there under reports.
One of my key parameters for buying shares are management.

I know Goldstream is still an explorer and I hope I do not sound a smartass, but it would be nice to see an improvement in your web site.I have included a sample here of what I regard as an outstanding WEB site. I think they got 2nd in the best web site competition.

http://www.perilya.com.au/about-us/board

All the best, regards Tony

[tricha]

Uranex 43.5% owned by GDM and heads for the sky today and Goldstream goes down.

Weird.

Cheers [B)][}:)]

[tricha]

Xstrata has their world class Nickel Mine in Tanzania, could it be Goldstream will have their own world class Nickel mine in Tanzania [?][?][?][?]They are now splitting off their new nickel province in Tanzania, will hold 51%, listing on the TSX, with an ex Falcobridge management team.

Xstrata: World-class nickel sulphide deposit in Tanzania
Source: Guardian



See also
Nickel Mining Board
Nickel Mining CatalogXstrata Nickel of Ontario, Canada, has announced a further investment of US$95 million and the commencement of a pre-feasibility study to advance the Kabanga nickel project in western Tanzania.

An update to the preliminary resource estimates has also been announced for the project, a 50/50 owned joint venture of Barrick Gold Corporation and Xstrata Nickel, operated by Xstrata through a subsidiary.

The study confirms the Kabanga nickel project as among the world's most attractive undeveloped nickel sulphide deposits, with a total estimated indicated resource of 9.7 million tonnes grading 2.37 per cent nickel. It also has a total estimated inferred resource of 36.3 million tonnes grading 2.8 per cent nickel.

"The revised estimate represents a notable increase from the project's previous estimate (inferred) of 26.4 million tonnes at 2.6 per cent nickel," says a statement released online.

Xstrata Nickel reports that it has completed over US$50 million in expenditure to update the resource model for the project and preparation of an extensive scoping study.

"We are very pleased with the progress occurring at Kabanga, which is among the world's most attractive nickel projects," said Xstrata Nickel chief executive officer Ian Pearce.

"We anticipated good results from our resource estimate update and we received them. We have taken the logical next step of moving this project to the pre-feasibility stage and we look forward to the continued development of Kabanga," he added.

Meanwhile, Barrick President and chief executive officer Greg Wilkins explained that Kabanga has the potential to become a world-class nickel sulphide deposit.

The most recent resource has a compelling combination of size with high grades and diamond drilling is ongoing with ten drills, he noted.

The extensive exploration programme is being conducted by the two companies, with Xstrata Nickel acting as the operator.

The Main Zone resource is based on 54 diamond drill holes, totalling 18,508 metres, with spacing between pierce points ranging from 30 to 50 metres.

The North Zone is based on 167 diamond drill holes, totalling 114,864 metres with pierce point spacing ranging from 20 to 50 metres for the indicated estimate and 50 to 150 metres for the inferred estimate.

The Tembo Zone resource is meanwhile based on 40 diamond drill holes, totalling 19,628 metres, with pierce point spacing averaging 100 metres.

The MNB zone is based on 6 diamond drill holes, totalling 4,298 metres, with hole spacing ranging from 50 to 100 metres. Xstrata Plc is a major global diversified mining group, listed on the London and Swiss stock exchanges and headquartered in Zug, Switzerland.

Xstrata Nickel, which is headquartered in Toronto, is one of the group's global commodity businesses. It comprises five mines and processing facilities in Ontario and Quebec; a ferronickel mine and processing facility in Bonao, Dominican Republic; and a refinery in Nikkelverk, Norway.

The company has a significant portfolio of growth projects, including Nickel Rim South in Canada, Kabanga in Tanzania, and Koniambo in New Caledonia.

It is the world's fourth largest nickel producer, with annual managed production of more than 110,000 tonnes of refined nickel.

For its part, Barrick is a leading international gold mining firm with quality assets, a string of projects and over 20,000 employees working on four continents.

[tricha]

Goldsream Mining is a no Brainer, I bought 46,000 shares on open today, to top up my previous 10k.

Take off the value of Uranex, which is a quality Uranium play and GDM costs you 19 cents a share!

1 - Cheap Uranium play via 33 million shares in Uranex

Uranex are worth 44.3 cents to GDM at todays price!

Uranex is quoted in the Weekend Australian as a genuine Uranium contender with 2 company making projects withn high grade U, Tanzania averaging 1.5 lb U per ton.[}:)]

2 - Continental Nickel tp be floated off on the TSX, GDM to retain 51%

3 - Lonmin PLC operated ventures for high grade Platinium , GDM retain Luwumbu 27% and Mibaggo 35%

4 - Cairn Hill, 100% GDM magnetite/copper/gold project in developement in SA

5 - Mt Woods hotspot to drill, could be the next Prominent Hill

6 - Have their own SA uranium targets as well.

7 - 12 million in cash.

[tricha]

GoldStream Mining is a no Brainer, must be getting too excited......

Anyone got any views on this one [?][?] or am I getting the picture totally wrong [?][?]

Cheers [B)][}:)]

[tricha]

Big day out, on the move.

Quarterly out today, excellent reading.

Should be $1.60 in six monthes.

Uranex is worth 42 cents per share to GDM.

Cairn Hill I estimate $1.00

And there is the rest.

Cheers [B)][}:)]

[shasta]

Tricha

Been looking into GDM & it's fundamentals all looks good, as you have stated above, my only concern is with there management/resources, are they spread a little too thin being so diversified?

I have enough Uranium plays with URA,DYL & PEN, but i like the looks of a company with other minerals as well, in particular Nickel.

Am weighing up whether i get into GDM or AGM?

Any thoughts?

TIA

[tricha]

Shasta - "Am weighing up whether i get into GDM or AGM? Any thoughts?"

Suspect AGM close to their peak, $1.00 but with market sentiment and being a prime take over target [?][?][?] They have 700 million shares on issue.

On the other hand GoldStream Mining have only 166 million shares.

As far as their diversification goes, its a great thing as they are quality assets.
Management will look after itself, take Continental Nickel for example, ex FalconBridge staff to manage it:)

Once the float is sorted (soon), then Duncan McBain(MD) will be able to focus on Cairn Hill, looking at the magnetic survey on it, they have only drilled a very small part of it, expect much more to come. This looks Big and I mean really Big.

Heres a question and its very important, how many other iron ore producers can ship iron ore with .4% Copper attached to it[?][?][?]

If thing go to plan, will be shipping ore to China 4th quarter 2007 [:p]

Cheers [B)][}:)]

[tricha]

Time running out for a cheap entry into this diversified near term Iron Ore producer.

New presentation out today, if U want a potential 1 -2 bagger read all about it;)

Cheers [B)][}:)]

[tricha]

Their new web site is envolving, broker reports out, StockResource 70c and Pattersons $1.10, both way out, $1.60 and topped up today.
Speculative buy, but as always wait for the news and its to late!

May 10, 2007

Goldstream Chases Its Runaway Offspring


By Our Man In Oz



The tail wagging the dog is an old trick. At Goldstream Mining the dog is about to bite back. Later this month the Australian explorer, which last year spun off the highly promising uranium explorer, Uranex, will finalise a feasibility which should see it make the transition into an exporter of a unique iron ore which is also rich in copper and gold. When that happens, and the geology and the financial numbers are looking good, then Goldstream will have completed a remarkable metamorphosis, and might even reclaim its position as a bigger company than its offspring.
In one of those ironies often seen in a mining boom it is the “flavour of the month” spin off which sometimes does better on the stock market than the parent. That’s been the case with Goldstream and Uranex. At the close of business on the Australian Stock Exchange last week Goldstream (at a price of A60 cents) was capitalised at A$88 million, while the fully-diluted value of its baby, Uranex, (at A$1.85) was A$162 million. Of real interest in that situation is the fact that Goldstream retains 33 million shares in Uranex worth A$61 million.

Until October, Goldstream’s Uranex shares will be held in escrow– but it isn’t rocket science to work out that when they become tradeable they will represent about 70 per cent of Goldstream’s current total market value. Put another way, the market is today valuing Cairn Hill and all of Goldstream’s other assets at a very lowly A$27 million. Looked at another way, the calculation illustrates what’s hot in the mining world today – and uranium is definitely hotter than iron ore.

But, if the competition between the corporate father and son is taken a step further it is worth considering the question of which company is likely to be the quicker making the transition from explorer to miner. On that there is little doubt that Goldstream will win because of the brisk progress being made at its Cairn Hill iron/gold/copper project in South Australia and, if all goes to plan exports could start early next year at a rate of around 1.4 million tonnes, at a profit margin of around A$10 a tonne – steadily growing to double that output rate . In other words, Goldstream, from next year, could be pocketing A$14 million a year, rising to A$28 million – which is about what the market currently values Cairn Hill after deducting the value of Uranex shares.

Duncan McBain, the new man in charge of Goldstream, shocked a few London investors last November with his first Minesite interview, in which he casually dropped his bombshell that Goldstream had become more interested in South Australian iron ore than Tanzanian precious metals. He remains optimistic that Goldstream is on track to start construction at Cairn Hill soon after the middle of this year.

In his second Minesite interview, conducted on the sidelines of a mining conference in Adelaide, McBain’s confidence is undiminished, and that 14 barren years under the Tanzanian sun is about to become a memory as Goldstream develops a source of recurrent income. All that’s needed is a change of name to complete the metamorphosis. McBain was silent on the cheeky name question but he was very talkative about what’s afoot at Cairn Hill, and in China from where he had just returned.

He said work on the Cairn Hill project was proceeding on “about 10 parallel fronts” with the primary focus being the calculation of resource and reserve numbers at the project which is close to Oxiana’s Prominent Hill copper/gold development. “We’ve finished drilling, so now we

[tricha]

My next "Mincor" ;) without a doubt, U read it here 1st and if it's the only thing U do about it, check it out throughly yourself, all their World Class deposits. Stocks starting to rebound in the last few days, something is brewing. I was lucky to top up at 58 cents.
I have a feeling two weeks only at this bargain basement price.

Continental Nickel is almost away with the lodging of the Canadian preliminary prospectus - I think they have excellent management in place & look forward to an active program during the rest of the year.

On Uranex I think they are in good shape - the company is now very well funded and this should be the year that things start to happen & I am hopeful they will have 2 JORC resources by the end of the year
Uranex have in the last week had broker recommendations of $3.00

They are seeking a project manager to manage the Cairn Hills magnetite mine.

At Mt Woods they are seeking an exploration manager as well, remember has the potential to be the next Olympic Dam or Prominent Hill, same mineral belt and has already been defined from a magnetic survey.

Cheers [B)][}:)]

P.S According to Mr McBain the web site should be upgraded fully in a few weeks, he's been to busy flying to China and Canada getting the IPO and mine going.

[shasta]

I agree Tricha, GDM just looks better & better.

I'm in as of tomorrow!

The Continental Nickel spin off on to the TSX looks interesting.

Good diversity & good projects & Uranex at $3 = $100m to GDM, more than it's Market Cap! ;)

Only downside is the website!:(

[tricha]

U R right about the web site Shasta, emailed Duncan over the weekend about it and he said it would be here in a couple of weeks. Too busy with important stuff.

Heres the broker report on Uranex and Goldstream being the major holder [:p]

http://www.minesite.com/fileadmin/content/pdfs/Brokers_Notes_3/Uranex.pdf

Cheers [B)][}:)]

[shasta]

Thanks for posting the link Tricha.

UNX at $1.61 = 53m to GDM, @ $3.05 = 100m.

GDM @ 61.5c x 147m = $90m Market Cap!

I would have thought $37m for the rest of GDM was a tad light.

A market cap around $200m (or $1.36 per share), would be a fairer value IMO.

As i said, i have a buy order in & like the looks of the 2nd half of 2007 for GDM.

[MrDevine]

Holding, maybe look to add more. Tight share register turnover is super low.

MrD.

[shasta]

I'm in & GDM has started to move today, up 4c to 65.5c at present.

[tricha]

Welcome on board Shasta and Mr Devine, I'm sure GDM will treat us extremely well.
Got my Chess Holding statement today and hold 165600 shares or .1% of the company, so I'm in boots and all.

This bodes well for the for GDM's unique Magnitite Project.;)

Another big iron ore price rise ahead: Citigroup
(Thursday, 7 June 2007)

ANALYSTS at Citigroup have joined the chorus of forecasters tipping another rise in the price of iron ore and coal next year, with Citigroup's latest number crunching prompting a fresh Buy call on BHP Billiton.
Full Story...

[shasta]

No one ever regretted buying quality, & i feel i have with GDM. (& covering a few different resources as well.)

Will look to accummulate sub 70c.

[tricha]

With todays price so low, an excellent topup day;)

At long last the new web site is in action.:) Interesting they have mining appliciations in India [?][?][?]

All we need now is the long awaited announcement, of an offtake agreement for Cairn Hill and we could see another Trafford or Territory in the making [:p]

China's Iron Ore Stockpiles Down to 43.38Mt on June 15

By Interfax-China
19 Jun 2007 at 09:03 AM GMT-04:00


SHANGHAI (Interfax-China) -- Iron ore stockpiles in China's major 23 ports amounted to 43.38 million tonnes on Friday, June 15, dipping 2.25% from the previous Friday. Indian iron ore concentrate stockpiles were also down 1.97% to 10.97 million tonnes.

The delivery price of Indian grade 63.5% concentrate in Chinese ports fluctuated between RMB 870 ($114.15) and RMB 880 ($115.47) per tonne last Friday, with Indian 61% concentrate at RMB 780 ($102.34) per tonne.




The delivery price for Australian grade 64.5% fines in Chinese ports stood at RMB 930 ($122.03) per tonne, with Brazilian grade 66% fines reaching RMB 1,100 ($144.33) per tonne. The delivery price consists of the iron ore CIF price, import taxes paid to the Indian government (if required), value-added tax and port fees.

International iron ore freight costs continued to fall last week, after reaching an all time high in mid-May.

Freight costs from Brazil's Tubarao Port to Beilun/Baoshan ports stood at $40.83 per tonne on June 15, falling 16.45% from June 8. Freight costs from Western Australia to Beilun/Baoshan ports stood at $15.03 per tonne on June 15, plummeting 21.47% from the previous Friday, according to the latest information provided by Shanghai Mysteel.

[shasta]

Tricha

Bout time this pup got some attention, whats happening on the Continental Nickle spin off?

Looking cheap sub 60c for sure.

[tricha]

Shasta -"whats happening on the Continental Nickle spin off"

The sooner the better is all I know.And the sooner they get Cairn Hill producing, the sooner we see some Trafford or Territory type action ;)

Also excellent news out today regarding Uranex and Uranium.[:p]

Goldstream upgrades iron-copper-gold resource at Cairn Hill, S Australia
Goldstream Mining (ASX:GDM) has a JORC resource upgrade for the Cairn Hill magnetite iron-copper-gold mineral resource, South Australia.

[shasta]

Nice ann indeed & along with Cairns Hills the Continental Nickel spin off will hopefully add significant value to the GDM SP.

Just need a Chinese partner aboard for Cairns Hill, & that decision can't be too far away.

[tricha]

Shasta - "Just need a Chinese partner aboard for Cairns Hill, & that decision can't be too far away"

I'm picking 2 weeks max and then once announced $1.00+.

We should also see some news out from Uranex regarding a massive deposit in Tanzania.

But till then, this will have to do.

http://sa.iguana2.com/cache/6fb127a0de10c86cee84dae7405c6be6/ASX-UNX-366951.pdf

I emailed Duncan recently regarding whats happening in India, waiting for a reply.

I'm sure all will be revealed soon.

Cheers [B)][}:)]

[shasta]

Tricha

UNX finished up 10.4% on Friday to $1.91 on the back of the good Thatcher ann & GDM goes down?

The market seems to forget that 14c jump was worth $4.6m to GDM

Hmmm - bring on the Chinese ann, & it would be much appreciated if you could post/summarize Duncan's reply re India. ;)

[shasta]

Tricha

Did you get the reply from Duncan?

The continental nickel spin off ann has sparked some life into GDM & it's currently up 8c to 65.

Didnt realise GDM shareholders would have some entitlement to the Nickel spin off!

[tricha]

Excellent day with 1% of the company traded. [:p]
Should clear the decks;)

Sorry Shasta, I guess Duncan has been to busy and so he should be, theres a hell of lot to do.

Management restructuring announced, got to be good, it was under strenght.

Continental nickel finally being spun off and shares being offered to existing shareholders. ( unlike AGM might I add )
So if you need to get some, last day is the 10th of July.

Cairn Hill I feel is getting very close and then we have lift off.

Duncan will be at another investor conference in August, I might just have to be there. Anyone interested in going, give me a bell.

Cheers [B)][}:)]

[bear]

looks under valued to me ... pondering the merits of getting in before 10th July - although i note NZ residents are not eligible (or have i mis read the announcement) for the Continental Nickel allocation

will probably wait a bit longer

bear

[shasta]

Bear

GDM should start off strong tomorrow with close of trade Tuesday being the last day for the Continental Nickel - TSX entitlements.

I'm am unaware that us NZ residents cannot participate & have emailed the company to clarify this.

I trade through ASB Securities & use a margin lending a/c, & as a Nominee service (& ASB owned by Commonwealth Bank) surely they are considered an Australian company?

[bear]

If NZ resdients can participate would probably worth getting on board Monday - if not - i think i'll wait

If you hear anything back Shasta could you post - i'll email as well

thanks

bear

[shasta]

Will do, have recently started emailing companies about there websites & it's contents etc, plus clarification of announcements.

Amazing what you learn simply by asking!:D

[sparrow]

You have to have an Australian address to participate. I don't think there are any exceptions, this is the case with quite a few share isuues /spin-offs..

Nevertheless GDM still worth looking at .

Market Cap $92 million.
With shares in Uranex and Contimental worth $78 million leaving rest of prospects valued at only $14 mill??????????

No word on Chinese partner yet for Cairn Hill, if this comes to fruition exopct SP to advance upwards

[shasta]

Sparrow

At last quarter, GDM had $9.6m cash, so true EV is < $10m.

Cairns Hill project alone is for 1.4mtpa of Iron Ore/Copper/Gold (FE @71%) over 10 years...

And thats without the Lonmin Palladium JV projects, or royalties, Indian interests & minor Australian projects (Tin & Nickel)

Way undervalued & like Tricha has stated above, we can't be too far away from an ann re a Chinese partner for Cairns Hill.

I would expect the GDM SP to be between 70 - 75c by close of trade Tuesday.

[bear]

Not much available between Friday's closing price and the 70-75c. Appears still good value @ your 70c price range.

will need to be lucky to get a good price and the quantity i would want.

bear

ps have you guys checked out Thor Mining.

[shasta]

quote:Originally posted by bear

Not much available between Friday's closing price and the 70-75c. Appears still good value @ your 70c price range.

will need to be lucky to get a good price and the quantity i would want.

bear

ps have you guys checked out Thor Mining.


No i haven't & the past month i've researched about 20 companies, so have my quota & targets already...

Will have a sneaky peak, on the appropriate thread [8D]

[sparrow]

Being of Scottish extraction, I also like the fact that GDM is getting almost $20 million worth of drilling on their prospects over the next year or so, but GDM is only putting up about $1.9 million of that ( but obviously lose a good percentage of their share in some prospects).

[tricha]

Sparrow - "Being of Scottish extraction"

You never know Sparrow, u might be related to Duncan McBain ;)

Yes they might be diluted Sparrow, but yes , no risk and they are top prospects, so very interesting times ahead.

Cheers [}:)]

Dear Retail Investors

The second Investing in Mining Stocks Forum is scheduled for Saturday 25 August.

The following eight companies will be presenting:

Cougar Metals Limited (CGM)

Shaw River Resources Limited (SRR)

Midas Resources Limited (MDS)

Scimitar Resources Limited (SIM)

[b]Goldstream Mining NL (GDM)

Ferrowest Limited (FWL)

Ashburton Minerals Limited (ATN)

BC Iron Limited (BCI)

As always please feel free to register by return email or complete the attached PDF and return to AMEC.

Regards Tracy Porter

Executive Assistant to the Chief Executive and Office Manager
Association of Mining & Exploration Companies

Phone : 1300 738 184 Fax : 1300 738 185

tracy.porter@amec.org.au

www.amec.org.au
AMEC is the peak industry body for junior and mid-size mineral exploration and mining companies in Australia.

[steve fleming]

GDM does look very interesting - cheers for the thread Tricha!

2 Questions though.

1) Is there risk in the Cairn Hill FS which is due very soon not being viewed by the mkt as positive? The scoping study seemed pretty positive with the major issue being whther the ore was to be processed on or off site (China). I saw that Anglo American pulled out of the Cairn Hill JV with GDM some time ago.

2) Is the Continental Nickel spin-off only being listed on the TSX (ie no secondary ASX listing?). If that is the case i think i'll hold off buying until GDM goes ex entitlement. The Continental IPO is only small, and i don't really want the hassle of owning a small parcel only traded on the TSX.

Cheers

[shasta]

quote:Originally posted by steve fleming

GDM does look very interesting - cheers for the thread Tricha!

2 Questions though.

1) Is there risk in the Cairn Hill FS which is due very soon not being viewed by the mkt as positive? The scoping study seemed pretty positive with the major issue being whther the ore was to be processed on or off site (China). I saw that Anglo American pulled out of the Cairn Hill JV with GDM some time ago.

2) Is the Continental Nickel spin-off only being listed on the TSX (ie no secondary ASX listing?). If that is the case i think i'll hold off buying until GDM goes ex entitlement. The Continental IPO is only small, and i don't really want the hassle of owning a small parcel only traded on the TSX.

Cheers




Steve

The Cairns Hill project is not viewed favourably by the market as we haven't yet secured a chinese partner/long term supply agreement, despite the fact we should be producing 1.4mtpa for 10 years, with a high grade of FE attached.

There won't be an in specie distribution, just a preferential entitlement to the IPO, & being from NZ i don't think i even qualify!

You are right though, it's only raising approx $A15m for the 49% being spun out & half of it has been earmarked for an aggressive drilling campaign.

Given the extremely low EV of GDM, currently very little in the SP has been attributed to the Cairns Hill/Continental Nickel assets anyway.

[shasta]

quote:Originally posted by tricha

Sparrow - "Being of Scottish extraction"

You never know Sparrow, u might be related to Duncan McBain ;)

Yes they might be diluted Sparrow, but yes , no risk and they are top prospects, so very interesting times ahead.

Cheers [}:)]

Dear Retail Investors

The second Investing in Mining Stocks Forum is scheduled for Saturday 25 August.

The following eight companies will be presenting:

Cougar Metals Limited (CGM)

Shaw River Resources Limited (SRR)

Midas Resources Limited (MDS)

Scimitar Resources Limited (SIM)

[b]Goldstream Mining NL (GDM)

Ferrowest Limited (FWL)

Ashburton Minerals Limited (ATN)

BC Iron Limited (BCI)

As always please feel free to register by return email or complete the attached PDF and return to AMEC.

Regards Tracy Porter

Executive Assistant to the Chief Executive and Office Manager
Association of Mining & Exploration Companies

Phone : 1300 738 184 Fax : 1300 738 185

tracy.porter@amec.org.au

www.amec.org.au
AMEC is the peak industry body for junior and mid-size mineral exploration and mining companies in Australia.






Tricha

Any chance you will be attending this? [8)]

[steve fleming]

thanks Shasta

Cairn Hill sounds promising.

I like the sound of it:

"Duncan McBain said Cairn Hill was shaping up as one of
Australia’s highest value per tonne iron deposits due to the high grade nature of the magnetite
and the associated copper revenue stream which will contribute in the order of 30-40% of the
project’s revenue."

When comparing Cairn Hill against comparable projects, you'd think Cairn Hill would be worth near abouts to $100m when up and running next year...so GDM is looking way undervalued.

[shasta]

quote:Originally posted by steve fleming

thanks Shasta

Cairn Hill sounds promising.

I like the sound of it:

"Duncan McBain said Cairn Hill was shaping up as one of
Australia’s highest value per tonne iron deposits due to the high grade nature of the magnetite
and the associated copper revenue stream which will contribute in the order of 30-40% of the
project’s revenue."

When comparing Cairn Hill against comparable projects, you'd think Cairn Hill would be worth near abouts to $100m when up and running next year...so GDM is looking way undervalued.


Yup, Duncan McBain's right, an average FE of 71% = very impressive

$100m/166m = 60cps for the Cairns Hill project

Currently the SP has less than 5cps factored into it IMO.

[tricha]

Hi Steve - ) "Is there risk in the Cairn Hill FS which is due very soon not being viewed by the mkt as positive? The scoping study seemed pretty positive with the major issue being whther the ore was to be processed on or off site (China). I saw that Anglo American pulled out of the Cairn Hill JV with GDM some time ago"

They will be shipping direct to China at this stage, they have already sent samples over there for processing and the trials have been very sucessful.
Duncan said they have six very interested Chinese partners lined up and when they announce ( could be any day now) it will be to late to get in at a great price.

A bit like Territory, rail link close to site and the SA Govt very supportive.

Have u ever heard of shipping iron ore with .4% Cu attached [?]

And yes Shasta I will be at the Goldstream Presentation.

Cheers [B)][}:)]

[sparrow]

quote:A bit like Territory, rail link close to site and the SA Govt very supportive.

I read somewhere that the rail line will need to be upgraded to carry the weight of GDM's ore, so don't expect they will meet their deadline os shipping early 2008

[shasta]

GDM up 4c to 66c today, & volumes are up noticeably since the SP jumped from 57c...

I'm predicting we will hit 70c tomorrow & maybe 75c by the end of week.

Of course if we get the ann we are waiting for re Cairns Hill, GDM will grow wings...

[bear]

Further IPO details provided late which clearly state Australian residents only

http://www.asx.com.au/asxpdf/20070709/pdf/313cfg3f381932.pdf

bought some today @ 64c so looking for some more share price appreciation. 75c by weeks end would be nice for a weeks work.

a bit worried about a retracement following ex-date but think i got a fair price ... just wondering why i hadn't made this decision last week

bear

[shasta]

I don't see where the retreat is coming from Bear.

Nothing has been factored into the current SP, of the Continental Nickel assets.

And having a small parcel on the TSX would be a nuisance to shareholders wanting to sell...

Remember the true EV of GDM is under $A10m, & given that excludes a world class Iron Ore project at Cairns Hill, any retreat would signal an even stronger buy signal IMO.

Have sold out of DYL completely & see GDM as the best place for those funds...

[steve fleming]

Damn!! they let this one go...kind of a bad move in hindsight!
-------------------------------------------------------------------
"GOLDSTREAM MINING NL 2002-05-01 ASX-SIGNAL-G

HOMEX - Perth

+++++++++++++++++++++++++
Goldstream Mining NL announces that it has sold three exploration
licenses in South Australia. The tenements are EL2604 and 2705 in
the Gawler Craton and EL2874 in the Curnamona Craton. The tenements
have been sold to Alliance Energy Limited.

Goldstream will receive four (4) million fully paid ordinary shares
in Alliance Energy Limited and will retain a 1.0% net smelter return
from each tenement.

Goldstream's major land position in the Gawler Craton has recently
been joint ventured with Anglo American Exploration (Australia) Pty
Ltd (ASX release 18th April 2002).

G S Kenway
MANAGING DIRECTOR
-----------------------------------------------------------------

I was trying to work out why GDM had a NSR royalty over Beverley 4.....and yep, they used to own it!! - Australia's premium multi-billion dollar uranium discovery in the last 20 years so AGS says....GDM must be kicking themselves

Still the NSR should be worth $20mil a year to GDM in a couple of years, when B4 starts producing....so they get something out of at least!!

Wonder if they still have their 4 mil AGS shares??

[tricha]

All might not be lost Steve, still have some excellent strike zones.;)

http://www.goldstreammining.com.au/mtWoods.asp

Steve - " I was trying to work out why GDM had a NSR royalty over Beverley 4.....and yep, they used to own it!! - Australia's premium multi-billion dollar uranium discovery in the last 20 years so AGS says....GDM must be kicking themselves

Still the NSR should be worth $20mil a year to GDM in a couple of years, when B4 starts producing....so they get something out of at least!!"

[Serpie]

Looks good Shasta,
Nice to see a small cap mining company that actually has assets, if only in the form of shares in another small cap mining company.

I've cleared a space on my watchlist for GDM. Not in a position to consider an entry for a couple of weeks, so hopefully they can hold off announcing a Chinese connection in that time.

It will be interesting to watch the SP action over the next couple of days now that the spin-off thingy is done.

Thanks for the tip, and to Tricha for the work on this thread.

[shasta]

Serpie

Do some calcs & get back to me on what you believe the enterprise value to be for GDM.

You will be stunned trust me...

Like NWE, undervalued stocks don't remain at bargin prices forever...

[tricha]

Serpie - "Not in a position to consider an entry for a couple of weeks, so hopefully they can hold off announcing a Chinese connection in that time."

Hmm, Duncan implied he was in negotiation with six Chinese buyers, out of the left field could be an Indian buyer ;)

Expect the unexpected and how long was that piece of string [?][?][?]

Cheers [B)][}:)]

[STRAT]

Tricha, Great thread, You share a lot of your hard work with everyone here and I for one would like to say it is very much appreciated. Tricha and Shasta, Are you boys going long on this one?

[MrDevine]

Q Report out today.

I like the bit about 'several prospective customers' Mr McBain can you please confirm that off-take deal soon! I like their small exposure to AGS at Bev 4 Mile (what a ride that was, glad I'm off that train, managed to make only a small amount of $ after got too greedy, lesson learned).

Be interested to hear Trichas/Shastas view on this Q announcement, profit takers sweeping today on soft market. This stock has been a bit sideways of late.

Mr D holds.

[shasta]

Strat

Very long in GDM & ADY

Mr Devine, have just got home & need to digest the ann.

Will post comments soon.

The sell off baffles me!

This little birdie goes cheap cheap cheap

[shasta]

quote:Originally posted by MrDevine

Q Report out today.

I like the bit about 'several prospective customers' Mr McBain can you please confirm that off-take deal soon! I like their small exposure to AGS at Bev 4 Mile (what a ride that was, glad I'm off that train, managed to make only a small amount of $ after got too greedy, lesson learned).

Be interested to hear Trichas/Shastas view on this Q announcement, profit takers sweeping today on soft market. This stock has been a bit sideways of late.

Mr D holds.


Mr D

Pretty solid quarterly, without being overly spectacular...

What i like:

We now have 7 interested partners up from 6, nice work DM.

Cash on hand - $7.5m

Listed investments @ $63.3m (UNX 33m shares @ $1.91)

CNI - spin off worth approx $A16m - & we retain 51% (another $A16m)

That's $102.8m, & when you consider 63.5c x 166m = $105m Market Cap

The remaining $2m buys a hell of a lot...;)

DYOR

[STRAT]

GDM. Not popular but so cheap [:p]:D

[shasta]

quote:Originally posted by STRAT

GDM. Not popular but so cheap [:p]:D


Good may it stay that way, while i back the truck up...:D

Some people just can't see the forest for the trees...[8D]

[tricha]

Spot on Mr Devine "profit takers sweeping today on soft market"

No real new news today. The "key" as we all know is the Cairn Hill off take agreement;)

Duncan's is making his presence felt with just over a year at the helm.

Looks like it goes into the bottom drawer along with NWE, TFE and ADY. Time to look for my next venture ;)

Cheers [B)][}:)]

[shasta]

Tricha

Perhaps you need a bigger set of drawers, those GDM & ADY's gonna take up plenty of room...

[Jaffa101]

Tricha / Shasta

I've doubled my holding on GDM today and I now have a decent parcel. Average entry price of 63 cents, and I'm glad to see it's heading in the right direction today.

Tricia - I've been very fortunate in the stocks that you brought to my attention so far this (calender) year, i.e. GGY, FML, TTY. :D

Me, like many others on this site enjoy your colourful postings!! Keep them coming!

I'm sure GDM will put a smile of my face as well once those announcements start coming our way......

Thanks for the great posts guys! Have a brilliant weekend! [8D] (go the AB's!)

[bear]

well the post x date retracement (if you could call it that) - was short lived (two days) ...unfortunately for me i did not add to my initial holding. Still looking to add but a few others are looking good as well

decisions decisions decisions


bear

[shasta]

quote:Originally posted by Jaffa101

Tricha / Shasta

I've doubled my holding on GDM today and I now have a decent parcel. Average entry price of 63 cents, and I'm glad to see it's heading in the right direction today.

Tricia - I've been very fortunate in the stocks that you brought to my attention so far this (calender) year, i.e. GGY, FML, TTY. :D

Me, like many others on this site enjoy your colourful postings!! Keep them coming!

I'm sure GDM will put a smile of my face as well once those announcements start coming our way......

Thanks for the great posts guys! Have a brilliant weekend! [8D] (go the AB's!)






Well done Jaffa - GDM will reward you & your patience...

If you look back at my posts, i've struggled to find another stock on the ASX with a lower EV with more potential.

If there is (& someone has the facts to back it up) then i'd love to hear it.

[tricha]

Jaffa101 - "I'm sure GDM will put a smile of my face as well once those announcements start coming our way......"

A bit of patience and I'm sure we will need those very big Shasta sized drawers [:p]

And Thanks for your vote of confidence Jaffa.

Cheers [B)][}:)]

[tricha]

The Uranex announcements today certainly didn't set the market on fire.
Interesting to see 2 good broker forecasts way above the price.

Anyone that knows U, is this a good announcement [?][?]

http://sa.iguana2.com/cache/e11e6da3ab966af6c5487541507212bc/ASX-UNX-369120.pdf

http://sa.iguana2.com/cache/ccc05922a12672e50389a179e21b6b40/ASX-UNX-369121.pdf

Goldstream trading in a wide range between buyers and sellers. I guess everyone is waiting for that one piece of news.

And that's the million $ question. At the end of the day the money will be transfered from the impatient to the patient;)

Cheers [B)][}:)]

[shasta]

It's actually one rather large piece of news called "Cairns Hill"...

Still sitting, waiting, watching...[B)]

Tricha - Did DM ever get back to you re India?

GDM never did return my email...[xx(]

I liked the ann yesterday Tricha, some good assay results.

Those valuations of $3 - $4 look awful tasty to me, thats $100m+ for GDM :D

[tricha]

Shasta -"Did DM ever get back to you re India?"

It's on the quarterly report Shasta.

Shasta - "GDM never did return my email..."

Same here Shasta, which is good, Duncan has more important fish to fry;)
25th of August, Shasta, good opportunity to visit Perth to meet the man and Kalgoorlie (Diggers and Dealers on)
Live and breath mining and take in the views, Skimpy's that is :)

Cheers [B)][}:)]

[Tech Step]

there does not seem to be much movement on this stock. It has been hovering around these levels for the last couple of months.

Can you share anything that may convince me (and others) that this stock is a good investment..

[shasta]

Tech

Go back a few pages & read Tricha's & my comments with regards to the EV of GDM.

Market Cap - cash & listed investments leaves very little attributed worth to a multitude of projects including the biggy, "Cairns Hill".

It will probably take the Cairns Hill announcement of a partner to highlight GDM's main project & to unlock the true value.

GDM is for the patient, so keep the patienta!

[MrDevine]

Tech Step/Shasta/Tricha,

Something afoot today, GDM at 0.71 as I type. Somebody knows something we all know. Volume is BIG for this stock too. Imminent ann on JV on Cairn Hill? Thoughts?

MrD Holds

[shasta]

quote:Originally posted by Tech Step

there does not seem to be much movement on this stock. It has been hovering around these levels for the last couple of months.

Can you share anything that may convince me (and others) that this stock is a good investment..


Up 8c to 71c - that enough convincing for you?

Mr D - UNX has had some anns this week & a presentation showing valuations of $3+ (currently < $2, & GDM owns 33m shares in UNX)

A Cairns Hill ann would push it to at least $1.

Keep on eye on the volume & VWAP...

[tricha]

"Goldstream trading in a wide range between buyers and sellers. I guess everyone is waiting for that one piece of news."

I guess someone got sick of waiting and acted late today. My mate Jeffery in Kal said he would be topping up 100k, yes a late strike.

But it did the same a few weeks ago. This stock would be a traders paradise looking at the trend, but hesitate and you are left in the departure lounge ;)

What do u reckon Mr Devine our next Mincor in the wings [?]

Cheers [B)][}:)]

P.S Uranex, presentation in the North America, whats up, mine developement coming soon[?]

[tricha]

Sparrow - "I read somewhere that the rail line will need to be upgraded to carry the weight of GDM's ore, so don't expect they will meet their deadline os shipping early 2008"

Pay to read todays latest report of Oxiana regarding shipping direct to Darwin ;) Where did u read that information from Sparrow [?]

Not only the same line the great OXR is using, but GDM have tenemanents on the same mineral belt, the same mineral belt as Olympic Dam, hence this is a play that could sneak in from the left field and take GDM to megabucks.

Trade Goldstream at your pearl ;)

[shasta]

Up again 2c to 73c & VWAP a very healthy 72.9c on just over 836k traded today.

Two good days volume & SP increases, all looking good...

[MrDevine]

Hey Tricha, those fundamentals look good to me. Don't know whether it'll be another MCR, we did quite well out of that one. Time will tell. Do you think a fund has been taking a postion past two days? Massive volumes compared to recent activity. I was thinking of adding to postion past couple of weeks, may do when trend is confirmed.

Mr D Holds.

[tricha]

She's certainly a weird stock regarding buying and selling Mr Devine.

Either no one wants them and they plumment or someone wants them and they have to pay for them big time.

Its sort of like there are never many for sale, yes lets hope a fund wants a few million of them.
Or even better another mining company wants a slice of them.

Cheers [B)][}:)]

[shasta]

Mr D

You might want to jump in early tomorrow, i get the feeling we might be getting an ann this week...

From Ang on H/C (posted today)

Duncan McBain GDM's, MD was in Adelaide earlier this year and I and a few long term old investers had a heart to heart talk to him regarding the price of the share in the past and he explained that he has three Chineese companies he has been speaking to and I aske are you playing them off against each other for the best deal. He explained that is not how it works, the Chinese are hard work to deal with for example he originally was talking to three and then two dropped out and it looked like one company was going to get the go ahead and after not hearing from one of them for three months they contacted him to say they are back in the market. It seems now they will also have a chinese company that will be making the buckets that go onto the rail tracks for the Cain hill project. I would say there is no ramping here we are very close to a done deal with the Chinese and that will be the next announcement as he confidently stated that they will be producing by the end of the year and for them to do that they would need to sign up with the Chinese now. I wil be accumulating on any weakness in the stock on Monday
kind reg
ang

[gullyboy]

Hey all.

I came across the sharetrader website and in particular this thread when I was doing some research on the upcoming Continental Nickel float.

I am a long term holder of GDM stock and I honestly believe that they are the most undervalued stock on the ASX. However, as mentioned already on this thread I do believe things are about to change with Cairn Hill and Continental Nickel (and of course UNX).

By all accounts Continental scrip is as rare as hens teeth (i.e demand is far outweighing supply) and is going to be very heavily oversubscribed. As a result it would not surprise me if some international investors, fund managers etc will take a position in GDM to leverage off an anticipated strong market debut on the TSX in the upcoming weeks. I speculate that the increased volume of stock traded in the last week or so has been due to international interest.

I too was fortunate enough to meet Mr McBain at an investor presentation in Adelaide before Christmas. He was very upbeat about the future of the company. One particular thing that he did mention during the presentation was that he was approached by every major mining company(and he re-iterated this)for a joint venture on the back of the Nachingwea first pass drilling results. He said no thanks to them all. The company has learnt from it's past mistakes.

I have appplied for my Continental Nickel shares. I just hope I get some.

Stay faithful everyone and I know you will be rewarded. Go you Goldy's.

[shasta]

Welcome Gullyboy...

I don't think we will be left waiting too long for some good news either...

[shasta]

For those that havent viewed the latest presentation (& confirming my low EV opinion)

http://www.goldstreammining.com.au/_content/documents/619.pdf

Pages 5 - 7 the most notable ;)

[Dazza]

oh we have viewed it alrite haha :D

[shasta]

$10m for Cairns Hill (forgetting all the rest?)

Get outta town!

This little birdie goes cheap cheap cheap...

[tricha]

Gully Boy - "I am a long term holder of GDM stock and I honestly believe that they are the most undervalued stock on the ASX."

My thoughts exactly, talk about patience being a virtue for Cairn Hill.

We know what happened to Territory and Goldstream is a replica in the making ;)
Cheers [B)][}:)]

[tricha]

Jan Steenkamp, Senior manager of ARM ferro-alloys division



» Question mark over Anglo/KIO tie-up
» Anglo's Carroll in quick-fire iron ore strike
» We were caught by surprise - Ras Myburgh, CEO, Kumba Iron Ore
» Iron ore miners cautious on price hike



» JSE:KUMBA IRON ORE LIMITED:
18348c 0%


Iron ore firms may get 20% contract fillip
David McKay
Posted: Wed, 25 Jul 2007
[miningmx.com] -- IT’S NOW AN ESTABLISHED TREND in the world’s mining industry that new projects and expansions of existing mines are failing to meet production deadlines. This means there’s no immediate end to high metal prices.


This is certainly true of the iron ore industry where expectations of a relatively modest single digit increase in contract prices, negotiated annually between the iron ore producers and the steel mills, may get converted into a double digit increase for 2008. Rio Tinto, which produces iron ore out of Australia, said recently it was battling to meet demand from China.

Rio Tinto and BHP Billiton are racing to produce more iron ore from the Pilbara region in Western Australia, but rising costs and a shortage of skills are constant hindrances. Another iron ore company, Fortesque Metals, has seen capital costs on its Pilbara project rise A$200m to over A$3bn.

Meanwhile, demand for iron ore continues to gather pace. Global steel production has outpaced market predictions and is up 3.8% for the first five months of the year compared with the corresponding period in 2006. Chinese imports of iron ore are 21% higher compared with last year.

“There’s speculation of a 20% plus price increase for next year taking lump to $111,50/t,” said John Meyer, an analyst for Numis Securities in a recent note. Analysts are currently assuming a 10% increase.

Kumba Iron Ore (KIO), in which Anglo American has a 65% stake, and Assmang, an unlisted business in which African Rainbow Minerals (ARM) has a 50% stake, are South Africa’s main iron ore producers.

“The demand/supply situation means we could have much higher than single-digit increases,” said Jan Steenkamp, who heads ARM’s ferrous metals division through which ARM holds its Assmang stake.

“It depends what the big boys do,” said Ras Myburgh, CEO of KIO referring to Brazil’s CVRD, the world’s largest iron ore producer, as well as Rio Tinto and BHP Billiton. If these iron ore producers take a short-term view, iron ore contract prices will leap substantially, booking upfront profits, said Myburgh. KIO reports interim results on July 27.

This might damage the market, however, which is why the mining houses may prefer a short-term view, said Myburgh. Both KIO and ARM warn of the consequences of hurting steel producers, which buy iron ore as a key ingredient in steel.

“If we continue to see increases in iron ore, we’ll really push the steel industry into dire straits,” said Steenkamp. “There are no new steel mills being built. They are running with old plants. So their margins are getting really squeezed,” he said.


Click Here to subscribe to our daily newsletterNonetheless, the earnings prospects for KIO and ARM’s ferrous metals division are promising. There are also expectations that KIO will announce a further expansion of its Sishen Iron Ore mine at Sishen South in the second half of 2007. Anglo American has made it plain that KIO represents a cornerstone of its ferrous metals unit. Annual iron ore from KIO could eventually reach 70 million tonnes from its current 42 million tonnes/year.

KIO’s share price is 39% stronger this year following its creation in November in the wake of the restructuring of Kumba Resources.

[shasta]

We have the GDM cashflow quarterly report out showing $7.5m cash & only $400k outflow for the next quarters development, a bit light i would have thought?

They have said the CNI spin off will occur early August & straight away have committed $2m expenditure to it (from the IPO proceeds).

The work on Cairns Hill is substantially done, but why aren't they spending more money on there other JV's & projects?

Tricha, any thoughts?

[seaosh]

Planning some acquisition?

Just a thought. No idea really. Probably wrong.

[shasta]

quote:Originally posted by seaosh

Planning some acquisition?

Just a thought. No idea really. Probably wrong.


Not with that level of cash & limited ability to borrow, however it could be that the Cairns Hill ann is on the way & the Chinese partner is going to inject some funds into it?

Am keeping the patienta on GDM...[|)]

Hurry up Duncan & announce Cairns Hill!

[gullyboy]

Hey Tricha, Shasta, MrD et al.

I could be way off the mark but .... trade in the stock was fairly thin and slow until late in the afternoon when a few buyers started buying at market (and pushing the share price up accordingly).

Now this could of been due to a number of factors including:

1) the anticipated release of the quarterly cashflow (I doubt it)
2) the stock being oversold over the last few trading sessions (maybe)
3) the release of a favourable broker report (possibly)
4) an announcement of the Cairn Hill JV partner in the immediate future (likely). It has to be close now.

I watch this stock closely and trading this afternoon was so uncharacteristic of them. Maybe someone knows something. I will be watching keenly tomorrow.

[tricha]

Shasta - "The work on Cairns Hill is substantially done, but why aren't they spending more money on there other JV's & projects?

Tricha, any thoughts?"

Sorry Shasta, been too busy looking at the bargin bin ;)but would hazard a guess, some else will spend the money [:p]

GullyBoy - "I could be way off the mark but .... trade in the stock was fairly thin and slow until late in the afternoon when a few buyers started buying at market (and pushing the share price up accordingly). "

Probably the same party that pigged a few weeks a go and took them into the seventies, probably wanted a lot more, but no one then would sell :(
Anything below seventy is cheap :)

Cheers [B)][}:)]

Cheers [B)][}:)]

[tricha]

Go Duncan


IRON ORE
Surging demand to underpin iron-ore prices as supply struggles to catch upRelated articles
Surging demand to underpin iron-ore prices as supply struggles to catch up
South African iron-ore producer Kumba Iron Ore (KIO) said on Friday that seaborne iron ore prices were expected to remain strong until around 2012,...
KIO budgets R1,4bn capex for July-Dec period
Iron ore producer Kumba Iron Ore (KIO) plans to spend up to R1,4-billion on capital projects in the second-half of 2007, as it ramps up production...
KIO eyes crucial wage talks, as already-onerous costs weigh on earnings
Arbitration may delay Sishen expansion - Kumba
Kumba to spend up to R3bn on growth projects this year
By: Matthew Hill
Published: 30 Jul 07 - 9:21
South African iron-ore producer Kumba Iron Ore (KIO) said on Friday that seaborne iron ore prices were expected to remain strong until around 2012, as industry expansions lagged, and demand grew rapidly.

CEO Ras Myburgh did not rule out the possibility of a double-digit increase in prices next year, speaking at the firm’s results presentation.

In an interview with Mining Weekly Online, CFO Vincent Uren said that, going forward, prices would depend on the speed at which the major producers’ expansions come on stream.

“They’ve had logistics issues, and they’ve had difficulties in getting their own mine production up in time,” he said, adding that there had been an average lag of 18%.

However, 2012 was seen to be a significant turning point, with a better balance likely to be reached between supply and demand.

“I think that, by 2012, it will be turning towards balance, so pressure may be coming off by that stage,” Uren said. “Until then, prices will continue to trend upwards, but the rate of increase will be coming down.”

KIO had exported 37% of its production during the six months to June to China, and expected this figure to balloon to over 50% by 2011/12 as Sishen Expansion Project production, and possibly Sishen South production, came online.

Uren said that KIO was expecting global seaborne iron-ore trade to grow by 300-million tons in three-to-four years’ time, with the majority of demand coming from China.

Numis Securities analyst Simon Toyne said in June that China’s iron-ore imports could reach 400-million tons this year, up from a figure of 326-million tons in 2006.

Uren said that China was showing a 13% compound growth in imports.

However, he noted that this sort of growth was not sustainable and would “have to simmer down quite a bit”.

Toyne said that he continued to expect a 10% increase in 2008 iron ore prices.
KIO on Friday announced a robust set of results for the half-year ended June 30, showing a 38% increase in headline earnings, and a 52% increase in operating profit, on the back of increased sales and higher prices received.

[gullyboy]

Canadian Nickel float has closed oversubscribed (3 and a half times - I heard). Goldstream to retain 53% of the company.

[shasta]

Canadian Nickel float has closed oversubscribed (3 and a half times - I heard). Goldstream to retain 53% of the company.


...and yet the share price goes down, go figure!

This is an exceptional result for GDM & approx half the funds received are going to fast track the CNI nickel drilling program.

Assume the rest will go to fast tracking the Iron Ore project at Cairns Hill?

[stevo1]

bit of a mystery---- www. topstocks.com.au rates gdm as most bearish stock by its members.i recently bought in at .69 for metals exposure(largely on the back of sharetrader forum).do these guys know something i dont.on the surface it seems like a good company to me.

[shasta]

bit of a mystery---- www. topstocks.com.au rates gdm as most bearish stock by its members.i recently bought in at .69 for metals exposure(largely on the back of sharetrader forum).do these guys know something i dont.on the surface it seems like a good company to me.


Steve by buying in you have shown that you are right!

When we get the Cairns Hill ann come thru, forget buying GDM under $1 again.

GDM's total market cap is now just about covered by its cash & listed company holdings.

I made an open challenge to anyone to find a cheaper company with a low EV & better propects than GDM (& i dont mean in hindsight!).

I'm also in SRZ which has a similar profile, lots of diverse projects & low EV.

[tricha]

Canadian Nickel float has closed oversubscribed (3 and a half times - I heard). Goldstream to retain 53% of the company.

Excellent result given the nickel correction!

18 million for 47% of the company, thats out there and Goldstream retains the rest.

The price went down, but with the market tanking, understandable.

Exciting stuff.

[stevo1]

looks good to me too but woops and sorry about this shasta & tricia and this is my mistake(MUST GET NEW GLASSES) stockwatch members voted GDN not GDM most bearish stock

[shasta]

Big oops there Steve - It's a stock i'm very bullish on & the US falling over isn't going to stop Cairns Hill Iron Ore taking off!

Far too cheap & with too much on the go to not be holding...

[shasta]

Nice bounce today up 5c to 65c, volume small, but a good start...

Each passing day gets us closer to the Cairns Hill ann!

[Tech Step]

yes I thought that the 5c increase was also a good sign as it beaks back through the 10 week moving average.. A further increase in share price will confirm the buy indicator....

[shasta]

Tech

You must have jinxed the poor thing, as today we saw the 5c gain reverse...

Still all on no news & low volume & it will waiver until we get the next ann...

[shasta]

Tech

You must have jinxed the poor thing, as today we saw the 5c gain reverse...

Still all on no news & low volume & it will waiver until we get the next ann...

GDM has slipped back to 58c in line with the market in general & unfairly IMO.

This "already" cheap stock, has now even more appeal & we surely can't be far away from announcing a chinese partner for Cairns Hill.

Iron ore is hot at the moment, yet everyone seems to have overlooked GDM?

Next week i will use these sub 60c prices to top up...:D

[tricha]

Goldstream comes up with Johann Jacobs as the new Chairman. ( any one have a handle on Johann:confused: )

Allows Duncan to re-focus

http://sa.iguana2.com/cache/36d4a92f9c7dce3e9cc97473625f346d/ASX-GDM-372719.pdf

[shasta]

Tricha

Could Johann be freeing Duncan up to do a deal with the chinese re Cairns Hill?

This ann has been a long time coming!

UNX before the "correction" was $1.91, now $1.10

33m x $0.81 = $26m wiped off GDM's market cap (or approx 15cps).

Given we are now at the ridiculous share price of $0.52 , this means excluding UNX GDM would be at 67c, or largely unmoved!

Tricha, i get the feeling only you & i know what GDM has got going!

[STRAT]

Shasta, bought some more today. It was hard to push that buy button though while everything I have was getting bashed.

[tricha]

Hey Shasta I tried to find Australian Zircon, re "Johann Jacobs as the new Chairman"

Couldn't find it on the ASX, any clues to how good he is.???????????

Shasta - "Could Johann be freeing Duncan up to do a deal with the chinese re Cairns Hill?"
Could also be helping him.


We will be catching up with Duncan next weekend, My mate Jeff from Kal wants answers to this very long question, "This ann has been a long time coming!"

[shasta]

Will do some research into Johann Jacobs & will advise what i find!

Johann Jacobs FCA, MBL, FAICD - (Non Executive Director)
Johann Jacobs has previously held senior roles in the acquisition, expansion or development of mining operations in New South Wales, South Africa and Indonesia. He also played a leading role in arranging the finance and development of a 3 million tonne per annum coal mine in Queensland with attendant civil engineering, process plant and transport engineering contracts.

From the Australian Zircon site ...

I have found some references to JJ re mining in South Africa, just drop the 2nd n from his christian name...

[shasta]

Shasta, bought some more today. It was hard to push that buy button though while everything I have was getting bashed.

Stroke of genius there Strat

Perhaps its not just Tricha & i that understand GDM!

[whiteheron]

Stroke of genius there Strat

Perhaps its not just Tricha & i that understand GDM!

I too consider that GDM is a snip at around its present price
It is one of about four shares that I would dearly like to buy or add to existing holdings but to do so I need to sell down or out of others --- what a dilemna deciding which ones have the least and best prospects

I hope that I got this right
Have not used this function before

Oh for a bundle of folding stuff !!!

[shasta]

I too consider that GDM is a snip at around its present price
It is one of about four shares that I would dearly like to buy or add to existing holdings but to do so I need to sell down or out of others --- what a dilemna deciding which ones have the least and best prospects

I hope that I got this right
Have not used this function before

Oh for a bundle of folding stuff !!!

GDM is one of 2 shares i hold that i wouldnt sell (URA being the other).

Both come under the no brainer category (like ADY/NWE are)

If you go back & read my posts on GDM, look at my EV calcs.

This little birdy goes cheap cheap cheap...

[tricha]

Thanks Shasta

I couldn't find Australian Zircon on stocknessmonsters search.

Be great to have u on board Whiteheron.

Goldstream has been a bit of a jigsaw puzzle and all the pieces are finally starting to fit together rather nicely.
I would say our new Chairman of the board will help Duncan to get this baby flying.
Whiteheron it would pay to get in before Cairn Hill gets a Chinese partner.
Which has been a long time coming, but for all we know, it could be tomorrow.
They have got some excellent tenements on the same mineralisation belt as Olympic Dam and Prominent Hill so exploration upside is huge.

Cheers



14 August 2007

GOLDSTREAM APPOINTS NEW CHAIRMAN
Diversified resources company Goldstream Mining NL (ASX:GDM) is pleased to announce the appointment of Johann Jacobs as Chairman of Goldstream.
Mr Jacobs’ appointment adds considerable depth and breadth of experience to the Goldstream Board as the company moves towards production at the Cairn Hill iron ore/copper project in South Australia, advances the highly prospective Mt Woods tenements on the Gawler Craton and gains exposure to more than US$10 million of joint venture exploration in Tanzania.
Mr Jacob’s has more than 30 years experience in the resource sector where he has managed established companies, acquisitions, expansions or start-up mining operations in Australia, South Africa and Indonesia. His more recent roles have included Managing Director of the ASX-listed coal producer CIM Resources, and Managing Director of the ASX-listed mineral sands developer Australian Zircon, where he continues as a Non Executive Director. In addition, Mr Jacobs holds various directorships in private resource focused companies active in Australia and internationally.
Goldstream Managing Director Duncan McBain said:
"Attracting someone of the calibre of Johann to Goldstream to take on such an important role in the development of the company is a real vote of confidence in Goldstream’s assets and future growth plans," Mr McBain said.
"Johann brings to the Board a wealth of experience in the resources industry and I believe his expertise in developing mines and acquisitions will be of particular benefit in the evolution and development of the company.
"We look forward to working with Johann during this exciting time in the evolution of Goldstream."

Effectively immediately, in recognition of an increased work load and the need to bring in additional expertise as the company advances, current Chairman and Managing Director Duncan McBain will step down as Chairman and remain as Managing Director.
DUNCAN MCBAIN
MANAGING DIRECTOR


For further information, please contact:


Duncan McBain


Managing Director


Tel: +61 8 9486 8688


E: duncan.mcbain@goldstreammining.com.au



Investor Relations:



Warrick Hazeldine


Purple Communications


Tel: +61 8 9485 1254


E: whazeldine@purplecom.com.au


Goldstream Mining NL 1 Goldstream Appoints New Chairman Goldstream Mining NL 2 Goldstream Appoints New Chairman

About Goldstream Mining NL
Goldstream Mining NL (ASX:GDM) headquartered in Perth, Western Australia, is listed on the Australian Stock Exchange (ASX).
Goldstream is a diversified mining company with projects in South Australia and Tanzania, east Africa, focusing on a range of commodities including iron-ore, nickel, gold, copper, platinum and uranium.
The company is disciplined in following a careful strategy to maximise shareholder value by discovering and developing ore bodies. Goldstream achieves this by participating in multiple, quality exploration projects in joint ventures with global mining companies, and by listing spin-off companies, to ensure programs with high potential are well-funded, while retaining a significant interest to provide exposure for Goldstream shareholders. In 2007 Goldstream shareholders will be leveraged to $19m of exploration, where Goldstream contributes $1.5m.
Goldstream’s 100%-owned project is Cairn Hill, 55 kilometres south-east of Coober Pedy, South Australia. This unique magnetite Fe – Cu – Au project is close to the Darwin to Adelaide railway line. Preliminary studies have indicated the project is viable and will produce a premium niche magnetite product that does not require pelletisation for use in the iron and steel industry in addition to having a significant Cu revenue stream.
In Tanzania, Lonmin Plc is earning interest in Goldstream’s Mibango and Luwumbu platinum joint ventures. Lonmin currently funds and operates the exploration for both projects.
Goldstream recently spun off 70% of the Nachingwea Nickel - Copper project in Tanzania into a Continental Nickel Limited (TSXV:CNI). Goldstream holds 53.0% of Continental Nickel and retains a 30% interest in the Nachingwea Nickel - Copper project through a joint venture company structure.
Goldstream owns 39.5% of Uranex (ASX:UNX), a spin-off company from Goldstream, which listed on the ASX on 25 October 2005 and is dedicated uranium company with assets in Australia and Tanzania.

Visit: www.goldstreammining.com.au (http://www.goldstreammining.com.au)


Johann Jacobs FCA, MBL, FAICD - (Non Executive Director)

Johann Jacobs has previously held senior roles in the acquisition, expansion or development of mining operations in New South Wales, South Africa and Indonesia. He also played a leading role in arranging the finance and development of a 3 million tonne per annum coal mine in Queensland with attendant civil engineering, process plant and transport engineering contracts.
http://www.auzircon.com.au/images/Johann_Jacobs.jpg

[shasta]

Directors have been buying, Cairns Hill ann imminent IMO

All starting to look good, interestingly GDM was the only stock not to be in the green in either my portfolio or watchlist!

[seaosh]

Topped up a little today. Hope we hear something soon.

[shasta]

Topped up a little today. Hope we hear something soon.

Smart move...

Remember in an earlier GDM post i said GDM had gone down only what its investment in UNX had gone down (approx 15cps).

UNX up 18% today & Uranium companies across the board enjoyed the rise, even my beleagued Uran was up 26%!

[Hoags]

Yeah I was a little perturbed by GDM yesterday I think it got as high as .53 before closing even at .50 again. Anyone watch the volume?

[shasta]

Yeah I was a little perturbed by GDM yesterday I think it got as high as .53 before closing even at .50 again. Anyone watch the volume?

Volume still very low (which is normal for GDM, being off the radar etc), but a small rally today in line with general sentiment.

We are due some news anytime & its seems GDM are taking these! :rolleyes:

[seaosh]

This one is still looking distinctly sick. True it's not down on much volume, but still. . .

Lets hope they hurry up and announce something positive re Cairn Hill.

[shasta]

This one is still looking distinctly sick. True it's not down on much volume, but still. . .

Lets hope they hurry up and announce something positive re Cairn Hill.

Certainly needs a jolt thats for sure...

Am keeping the patienta, Cairns Hill will happen soon enough & GDM will take off!

[Tok3n]

Are the Fe grades at Cairn Hill good enough?

Their gold results so far look promising, but I guess iron ore is flavour of the month.

[shasta]

Are the Fe grades at Cairn Hill good enough?

Their gold results so far look promising, but I guess iron ore is flavour of the month.

There FE grades are among the best in the country! (over 70%)

[Tok3n]

I can't see any reports saying its 70%

Although they've indicated they could be mining end of 2007.

Hope its not another URA for you Shasta e.g. false promises by directors etc.

[Huang Chung]

I think that people need to be careful as GDM's ore is magnetite, whereas the BHP's and RIO's of this world mine hematite. Two very different beasts indeed.

To my way of thinking, you wouldn't want to be involved with magnetite ore if the price of the commodity dropped significantly.

[shasta]

I can't see any reports saying its 70%

Although they've indicated they could be mining end of 2007.

Hope its not another URA for you Shasta e.g. false promises by directors etc.

Uran WILL come good & so will GDM...see below

GDM’s objective for the Cairn Hill project is to bring it into production as soon as possible. GDM is finalizing the feasibility studies and government approvals. The objective is to commence mining in CY 2007. The initial phase of the mine is planned to produce 1.4Mtpa of magnetite (iron ore) / copper / gold ore, with a 10 year mine life.

The ore ranks as some of the is the highest grade iron ore in Australia with 71% Fe equivalent DSO product.

In terms of funding, the Company is currently negotiating an off-take and cornerstone partnerships.
Cairn Hill February 2007 Inferred Mineral Resource Estimate – Magnetite Domain
(above a 30% Fe equivalent cut-off)



Two versions of the Mineral Resource were analysed. The first reports an in situ Mineral Resource, while the second presents a diluted Mineral Resource calculated by adding a 0.5 metre wide envelope of edge dilution to the in situ Mineral Resource.
All resource reporting is above an iron equivalent cut-off grade of 30% Fe for Goldstream’s magnetite ore domain. The equivalence equation was based on three year average metal prices of US$53.62/t iron, US$2.03/lb copper and US$490/oz gold and metal recovery factors of 88% for iron, 95% for copper and 89% for gold. An in situ bulk density of 4.3 t/m3 has been applied to the magnetite horizons and 2.9 t/m3 to the surrounding mineralised (copper/gold envelope) host rocks.

The magnetite concentrate that can be produced from Cairn Hill ore will be one of the highest available worldwide with a grade of up to 71.5% possible. Concentrate of this quality has strong value in use benefits to steelmakers. In addition due to the co****ness at which the concentrate can be produced, it can be fe directly into the blast furnace like fines without the need for pelletisation.
Metal recoveries are exception for a magnetite with primary recoveries for iron up to 92.6% and up to 98.2% for copper.

GDM is currently evaluating on site dry magnetic separation to increase the shipping grade of the ore. Testwork shows that is possible to increase the grade of the Fe by up to 8%, which has major imlications for the shipping economics. Importantly, the byproduct of mining iron ore is copper, and copper will represent up to 50% of GDM’s revenue from the Cairn Hill project.

Milestones to monitor

Quarter 2, 2007: Completion of Feasibility Study
Quarter 3, 2007: Approvals process completed - Mining to commence at a trial pit
Quarter 4, 2007: Commencement of production of iron ore and first shipment of ore expected in the first half of 2008.

[shasta]

The following was posted by slugstock on H/C regarding GDM's 39.5% interest in UNX.

Note the dates...

---------------------------------------------------------------------------------------

came from the UK based minesite...................

There are a lot of reasons why an investor in uranium stocks should follow Uranex, an Australian-listed explorer with a dual focus on interests in that country, and Tanzania in Africa. Asset quality is one factor. Management quality another. But hidden behind those two positive features is a fascinating relationship Uranex has struck with an arm of the Chinese Government. Until now, the link with the Department of Overseas Uranium Resources Investment of the China National Nuclear Corporation (CNNC) was a curiosity which did not seem to contain a great deal of value. It wasn’t a secret, just that no-one really talked much about it after the signing of a letter of intent on April 4 last year – that was until Minesite’s Man in Oz discovered what appears to be the trigger which could unleash significant value in Uranex, and the time when that might happen.
October 25 is the time, of that there is little doubt. Precisely what happens on that day remains to be seen. But, if “two-plus-two equals four”, and has not been mangled into some other inscrutable Chinese number, then on that day a large slice of capital in Uranex could be heading to CNNC. The reason the date is so important is that it represents the second anniversary of Uranex’s listing on the ASX. It is also the date on which a 39.5 per cent stake in the stock comes out of escrow.

Goldstream Mining is the holder of what amounts to a controlling stake in Uranex, a result of Goldstream’s “parental” role in the creation of Uranex. Most of the assets in the uranium float came from Goldstream, including the very promising Bahi discovery in Tanzania, and a slice of the Thatcher Soak uranium deposit in Western Australia. Goldstream, by floating off Uranex, gave the best possible indication that it was interested in pursuing other interests, including the Cairn Hill iron ore project in South Australia – an asset which has also attracted the interest of Chinese buyers.

It was while exploring the Chinese puzzle with Robert Edwards, a director of Uranex, at a uranium conference in the Australian port city of Fremantle that Minesite’s Man in Oz put together his “two-plus-two”. It started with a question about the China relationship. Edwards described it as a method by which Uranex could win introductions to other parts of the Chinese nuclear industry. “They introduce you to another company, such as SinoSteel,” he said. So, they’re using you as an explorationist? “They could,” Edwards said. “We could go to them directly if we wanted a joint venture, or needed assistance with a feasibility, or geologists.” And then the key question: Couldn’t they simply wait for you to prove up something and then buy you?

“They could, there’s a lot of ways to do it,” Edwards said. “Our biggest shareholder is Goldstream Mining, and they’re in negotiation with the Chinese over the iron ore in South Australia, and they have 39 per cent of us, and their shares come out of escrow in October, so whether they maintain their equity in us, or divest it, we don’t know.” Minesite: “With CNNC as a natural buyer?”. Edwards “They could be a natural buyer, I imagine, or not necessarily them, some company allied, one of their nuclear power station groups.” So, there you have the trigger date, October 25, after which something can happen to a 39.5 per cent stake in Uranex, most probably with a Chinese flavour to it.

The residual part of the riddle is whether Chinese interests would want a controlling stake in Uranex, or a slice of that stake. The answer, if your believe analysts at Deutsche Bank, has to be yes. There are two messages in that statement. First, that Uranex is a rare beast in that it is one of the few small uranium stocks that Deutsche has researched, and issued an unequivocal buy tip. The full research paper is available on the Uranex website. Secondly, that Deutsche, like Edwards, is particularly enthusiastic about Bahi and Thatcher Soak.

Minesite’s Man in Oz does not share Deutsche’s optimism about the Western Australian assets because the government of that state remains implacably opposed to uranium mining, and while the impasse has been cleared at a national government level, it could be years before the next level of Australia’s uranium logjam is broken, and in Australia state governments make mining law. Whatever the politics, Deutsche has applied values to Thatcher Soak (6,000 tonnes of uranium) and Bahi (2,400 tonnes and growing) to arrive at a discounted cash flow value per Uranex share of A$3.59. Given that Uranex is currently trading at A$1.53 there appears to be what might be called “latent potential” in the stock.

Interestingly the Deutsche document does not appear to make any reference to the CNNC relationship, or the fact that Goldstream’s 39.5 per cent stake comes out of escrow on October 25. An interesting oversight as that date represents the trigger point for a possible change of control, or some other corporate deal that could represent the real launch of Uranex.

---------------------------------------------------------------------------------

The above shows that a possible scenerio exists for a large Chinese energy company/group to do a deal with GDM & fund the Cairns Hill Iron Ore project, in exchange for the UNX shares...

At the right price i'd go for it!.

GDM lagging big time, so this kind of article being banded around can only help!

DYOR

[shasta]

GDM up 4c to 49c today & on > 500k volume...

Not normal for GDM, so looks like its being bought on upcoming info?

Cairns Hill, finally on it's way perhaps?

[shasta]

GDM up 4c to 49c today & on > 500k volume...

Not normal for GDM, so looks like its being bought on upcoming info?

Cairns Hill, finally on it's way perhaps?

GDM showing signs of a gradual recovery up to 52c, though still on low volume (normal for GDM).

Am keeping the patienta :)

[STRAT]

It would seem the Chinese partner is on one of those slow boats from.................. Hope they arent lost at sea

[shasta]

It would seem the Chinese partner is on one of those slow boats from.................. Hope they arent lost at sea

Strat

If only Duncan McBain would bother to answer my emails on the Cairns Hill situation, last i heard he "couldn't" say anything...

As time goes by it cant be good...:confused:

[shasta]

Strat

If only Duncan McBain would bother to answer my emails on the Cairns Hill situation, last i heard he "couldn't" say anything...

As time goes by it cant be good...:confused:

Am increasingly starting to question my "investment" in GDM.

Whilst they have cash & meaningful Nickel & Uranium exploration interests (there spin offs), it's there flagship "Cairns Hill" project where the value in GDM will be unlocked.

The fact this info has been such a long time coming, GDM is potentially missing the boat on high Iron Ore prices, & moving back into the pack.

By the time they get this sorted the Iron ore supply situation will meet demand & the prices will likely drop...

So much potential, but i'm close to walking away with a small loss...

Those in GDM for Cairns Hill - i urge you to review your reasons for buying this stock.

It may fly as soon as i sell, who knows though it doesnt fit that well with my other stocks & if any have to go, it will.

Please DYOR

[seaosh]

Getting concerned as well. . . Chart has looked sick for a while (even as the rest of the market has come storming back).

On the other hand one of the directors sons bought a reasonably significant amount back in August at around current prices. $60k worth or something.

I'm sitting on a loss I really don't want to take on this one.

[stevo1]

hi shasta admit to going blue in the face on this one(only a small holding 30k shares)but entry of .69 bad timing (ouch) bhp & rio are looking for heavy price increase for iron ore negotiating october.i must admit that your evaluation of this company helped me into it.maybe one to sacrifice to the gods of speculation?thanks for the heads up

[shasta]

hi shasta admit to going blue in the face on this one(only a small holding 30k shares)but entry of .69 bad timing (ouch) bhp & rio are looking for heavy price increase for iron ore negotiating october.i must admit that your evaluation of this company helped me into it.maybe one to sacrifice to the gods of speculation?thanks for the heads up

GDM is a basket of goodies, & i have calculated the EV of it for all to see on this thread, which is what made me buy in originally, though its not producing anything!

As it has a myriad of different metals & projects & it needs to get one up & producing ie, Cairns Hill & possibly spin off or sell other projects.

I also bought SRZ which is even worse than GDM, for its amount of projects (almost an LIC!), but the sub prime problem was always going to hit the non producing specs the hardest, & im moving out of them.

Its not ramping, but merely a "timing difference" until the market values the company the same as i do.

Personally i'd rather be topping up on ADY & URA before they run, than holding GDM...

I don't know what i'll do, just yet...:confused:

[stevo1]

no worries .unsure myself at this stage.the chinese connection is where the interest lies for me .in face of declining $us and the great wall of chinese money looking to suck up raw materials and perhaps their producers.

[shasta]

no worries .unsure myself at this stage.the chinese connection is where the interest lies for me .in face of declining $us and the great wall of chinese money looking to suck up raw materials and perhaps their producers.

Let a few GDM go at 50c, didnt realise i had an old sell still & returned home to find a confirmation email from ASB Sec.

Not too unhappy though & still holding a few & will continue to hold them

[gullyboy]

Hey Shasta,

Sory you had to let some go.....but I had to buy them from someone.

Jokes aside I did buy some more today and am still chasing some more at current price levels. I am hoping to see some news flow shortly and am confident that a deal will be struck with the Chinese shortly.

At current prices I do not see much downside (due to their listed assets i.e. UNX and CNI) but heaps of upside. But we've said it all before have'nt we.

[shasta]

Hey Shasta,

Sory you had to let some go.....but I had to buy them from someone.

Jokes aside I did buy some more today and am still chasing some more at current price levels. I am hoping to see some news flow shortly and am confident that a deal will be struck with the Chinese shortly.

At current prices I do not see much downside (due to their listed assets i.e. UNX and CNI) but heaps of upside. But we've said it all before have'nt we.

Its just a waiting game now...

Seeing ADY & URA up yesterday softened the blow a little

[shasta]

Its just a waiting game now...

Seeing ADY & URA up yesterday softened the blow a little

Dumped my remaining shares today, in light of the ADY developments.

With ADY splitting the company in 2 - Iron Ore & Lithium - the Iron Ore company "ADY" is far more advanced than Cairns Hill & therefore i've topped up in ADY pre-split instead.

Despite exiting, i still believe GDM has great potential, esp in the Cairns Hill project. With Platinum at near historic highs the Lonmin JV's look promising too.

What i believe is causing the delay is perhaps a "deal" brewing for when the UNX shares come out of escrow Oct 25.

There have been rumours that Chinese interests want the UNX shares, & i can see a deal being struck to sell the shares as part of a funding agreement for Cairns Hill.

I hate selling at a loss, so hope those that stay in GDM are rewarded.

[sparrow]

Been slowly accumulating GDM and witn UNX going to #1.39 today, even more encouraged.

The market is now placing a value of almost nothing on Cairn Hill once GDM's investments in UNX and Continental Nickel are allowed for. UNX investment alone is worth $45.8 million at today's share price, and total market caap at 48.5 cents for GDM is only $71 million.

Somethings gotta give soon..............

At least four chances of something sparking GDM:

1. Good drill results from UNX
2. Ditto from Continental
3. Chinese partner found for Cairn Hill.
4 Exploration news from Lonmin (farming in on GDM projects).

[tricha]

Been slowly accumulating GDM and witn UNX going to #1.39 today, even more encouraged.

The market is now placing a value of almost nothing on Cairn Hill once GDM's investments in UNX and Continental Nickel are allowed for. UNX investment alone is worth $45.8 million at today's share price, and total market caap at 48.5 cents for GDM is only $71 million.

Somethings gotta give soon..............

At least four chances of something sparking GDM:

1. Good drill results from UNX
2. Ditto from Continental
3. Chinese partner found for Cairn Hill.
4 Exploration news from Lonmin (farming in on GDM projects).


Spot on Sparrow, jumped back in today on Uranex jumping up, as u stated makes GDM look extremely attractive on these terms:cool:

[seaosh]

And just when I'd been thinking of getting out. . .

Hadn't noticed the jump in UNX.

Well we will see. . .

[gullyboy]

Only good things to come from here I hope.

Goldstreams listed investments are now worth more than what the stock is capitalised at! Theoretically, the market is putting a $0 value on all of Goldstreams other projects including the advanced Cairn Hill project, and Tanzanian operations.

The share price drivers as I see them are:
1) A deal with the Chinese wrt Cairn Hill. Duncan in China right now so hopefully a deal is imminent.
2) Uranex to release a JORC resource soon which should re-rate them.
3) News flow from its other Tanzanian operations especially Continental Nickel.

This stock is definately not a market darling and management need to address this and unlock some value for their patient shareholders.

I am a holder of this stock.

[seaosh]

Well it's having it's biggest volume day in more than a month so maybe things are looking hopeful after all.

[STRAT]

Well it's having it's biggest volume day in more than a month so maybe things are looking hopeful after all.yeah up 7.3% today. I still feel comfortable leaving this one in the bottom drawer for a while

[tricha]

Only good things to come from here I hope.

Goldstreams listed investments are now worth more than what the stock is capitalised at! Theoretically, the market is putting a $0 value on all of Goldstreams other projects including the advanced Cairn Hill project, and Tanzanian operations.

This stock is definately not a market darling and management need to address this and unlock some value for their patient shareholders.

I am a holder of this stock.

Regarding management, hopefully the new chairman of the board will put a firecracker under them.
He has been there a few monthes now so should have things worked out by now.
Duncan is doing a presentation at a AMEC in Perth, November 10th, unfortunately not able to make it, I hope someone else out there can and give him a right grilling over why Cairn Hill not producing now as he previously stated.

Cheers

[Huang Chung]

Tricha - I know your big on oil, but you seem to have rekindled your interest in some miners of late. Other than GDM, I'd be interested to know if you've bought any miners in the last few weeks.

Personally, I'm happy to stick with the miners at the moment.

[tricha]

Tricha - I know your big on oil, but you seem to have rekindled your interest in some miners of late. Other than GDM, I'd be interested to know if you've bought any miners in the last few weeks.

Personally, I'm happy to stick with the miners at the moment.

Only Perilya and bought my ADY back, hopefully it will explode out of the starting blocks when they do the sharesplit, a bit like ARU did early in the year.
The way oil is looking ADY should be able to take advantage of it, Lithium should be worth it's weight in gold.

Great to see your PDZ is flying:D

Cheers

[Huang Chung]

Only Perilya and bought my ADY back, hopefully it will explode out of the starting blocks when they do the sharesplit, a bit like ARU did early in the year.
The way oil is looking ADY should be able to take advantage of it, Lithium should be worth it's weight in gold.

Great to see your PDZ is flying:D

Cheers

Good to see you with a few miners under your belt again Tricha.....I used to very much enjoy your colourful and loud posts on MCR etc each day, until you decided to go all bearish on us! :D

[tricha]

Good to see you with a few miners under your belt again Tricha.....I used to very much enjoy your colourful and loud posts on MCR etc each day, until you decided to go all bearish on us! :D

Yeah well I'm bullish on GDM again Huang.

U is on the charger again and a big part of GDM is UNX and what you see with Korea electric power will become common, secure your Uranium ;)

GDM is ripe to be taken over at this price.

http://www.mineweb.net/mineweb/view/mineweb/en/page38?oid=39237&sn=Detail
US$307 MILLION MOU
South Korea’s millions for Forsys’ Namibia uranium project

Korea Electric Power Corporation is the latest company after a slice of Namibia’s yellowcake after signing a US$307 million MoU with Forsys Metals Corp., which is advancing the Valencia uranium project in the country.
Author: Rodrick Mukumbira
Posted: Friday , 02 Nov 2007

[STRAT]

Its nice to see you keen on GDM again Tricha. A Chinese connection has been slow coming. I suspect they have run into difficulties with this.

[gullyboy]

Goldstream looking interesting this morning. Could it be the LONG awaited announcement re a Chinese partner for Cairn Hill. ...... and just in time for the AGM next Tuesday????

[seaosh]

two days after I sell out. . . great.

[Hoags]

Up 25% already.

[gullyboy]

Rise in demand and price for the stock is due to preliminary drill results from Goldstream's Continental Nickel (CNI) spin-off. CNI shares up $1.99 overnight.




Continental Nickel Announces Initial Drill Results From the Nachingwea Project, Tanzania-New High Grade Ni-Cu Sulphide Zone Discovered Grading 7.50% Ni, 1.15% Cu Over 9.55 m
08:00 EST Tuesday, November 20, 2007


TORONTO, ONTARIO--(Marketwire - Nov. 20, 2007) - Continental Nickel Limited (TSX VENTURE:CNI) ("CNI" or "the company") is pleased to announce the first drill results from its 70% owned Nachingwea nickel sulphide project in Tanzania. The Nachingwea project is a 70:30 JV with Goldstream Mining NL ("Goldstream") of Australia. The drill holes in this initial program intersected six new zones of magmatic sulphide mineralization, including the new high grade zone H intersected in drill hole NAD007-028 which grades 7.50% Ni, 1.15% Cu and 0.10% Co over 9.55 m. The intersection includes a 4.0 m interval of massive sulphide grading 15.31% Ni, 2.53% Cu and 0.19% Co. Follow up drilling at the NAD013 area discovered by Goldstream Mining in 2006 (located 300m northwest along strike of the H Zone) has also returned an intersection of 17.11% Ni, 2.71% Cu and 0.19% Co over 1.9 m from drill hole NAD07-019.

In August and September, 2007, a ground fixed loop time domain EM survey was completed by Crone Geophysics and Exploration Ltd. Seventy-five line kilometres of surveying were completed from eleven loop positions designed to provide systematic coverage of the Ntaka intrusion where high grade nickel sulphide mineralization was discovered by Goldstream in 2006 ("NAD013" area). Subsequent modelling of the data by Crone identified at least twelve (12) moderate to high conductance targets ranging from less than 100m to greater than 300m in strike length, one of which was coincident with the high grade, Ni-Cu mineralization at NAD013. A map showing the locations of the target areas is provided as figure 1 attached.

Drilling commenced in mid-August with fifty-three drill holes totalling 10,514 m completed with two drill rigs. The assays from seven holes have been received and are reported in the attached table. The locations of the various drill holes completed in the NAD013 and H target areas shown in figure 2 attached.

The new high grade mineralized zone was discovered while drill testing a strike limited (less than 100m), conductor (Target H) located 300m southeast of the NAD013 area. Seven drill holes have tested the new H zone to date. Both the NAD013 and the H zones are located along the western margin of the Ntaka intrusion and are mineralogically similar consisting of massive pyrrhotite-pentlandite-millerite-chalcopyrite. The first hole to the test Target H (NAD07-26) intersected a narrow zone of sulphide mineralization from 61.7 m down hole which graded 3.52% Ni, 0.38% Cu and 0.06% Co over 2.05 m including a 0.45 m interval of massive sulphide mineralization grading 14.75% Ni, 1.12% Cu, and 0.23%Co. Drill hole NAD007-028 tested a location 20 m down dip of the intersection in NAD07-26 and intersected several zones of closely spaced massive to semi-massive to stringer sulphide mineralization which graded 7.50% Ni, 1.15% Cu and 0.10% Co over an interval 9.55 m at a depth of 66.45 m down hole. This interval includes a zone of high grade massive sulphide grading 15.31%Ni, 2.53% Cu, and 0.19% Co over 4.0 m from 66.45m to 70.45m. Five additional drill holes have been completed on this target, with four intersecting massive sulphide mineralization ranging from less than 0.5 m to 2.25m in core length. The assays results are pending from those drill holes.

The discovery of this new H zone underscores the potential for additional high grade mineralized zones along the western margin of the Ntaka intrusion and provides a high level of confidence in the geophysical targeting methodology.

In the area of drill hole NAD013 drilled in 2006 by Goldstream which graded 11.23% Ni, 1.74% Cu over 3.0 m, the Crone ground EM geophysical survey confirmed the presence of a strike limited (less than 100 m), shallow dipping, strongly conductive anomaly which can be correlated with the mineralization intersected in that hole. Eleven drill holes (NAD07-18, 19, 20, 21, 22, 53, 55, 56, 58, 60 and 62) totalling 2,055 m tested the area of conductivity along strike and down dip of the NAD013 discovery hole. Assays have been received for five of the holes. Hole NAD07-19, drilled 30m south and along strike of hole NAD013 returned 1.90 m of massive sulphide mineralization grading 17.11% Ni, 2.71% Cu and 0.19% Co at a depth of 48.94 m down hole. Holes NAD07-18 and 20, positioned 30 m down dip of holes 13 and 19 respectively, both intersected narrow, high grade massive sulphides. NAD07-21 and NAD07-022 were drilled 50 m south along strike of NAD07-19 and 20 and did not intersect any significant mineralization.

Targets I and L are located along a 1.3 kilometre strike length of the western part of the Ntaka intrusion respectively southeast and northwest of the NAD013 and H target areas. Drilling has intersected multiple zones of semi-massive to massive sulphide mineralization over core intervals ranging from less than 0.5 m to approximately 3.0m. The assay results are pending.

Elsewhere on the property, Targets G, J and M, which are located in the eastern and northern portions of the Ntaka intrusion, are associated with intersections of disseminated, net-textured, semi-massive, or massive sulphides over core lengths ranging from 3.0 m to 18.0 m. The assays are pending.

Management is very pleased to report that the current Phase I drilling was successfully completed as planned, and in advance of the approaching wet season. Down hole pulse EM surveying is underway on selected drill holes to assist in identifying extensions to known mineralization and to evaluate for the presence mineralized zones near existing drill holes.

A 5900 line kilometre airborne magnetic / EM survey has commenced with approximately 1750 line kms completed. Data collected from this survey will be processed and modelled in order to identify new regional targets for follow up in the 2008 program.

Craig MacDougall, President & CEO of Continental Nickel Limited, reported "We are very excited to have discovered a new high grade Ni-Cu massive sulphide zone along the western margin of the Ntaka intrusion. The potential for additional discoveries remains high. This discovery and the discovery previously made by Goldstream Mining in drill hole NAD013 exhibits grades which are exceptional for nickel sulphide mineralization. Moreover, our drilling to date has intersected nickel sulphide mineralization in five other targets for which assays are pending. I wish to congratulate our exploration team for having quickly made new discoveries on this project.

Quality Control

The drilling was completed by Tandrill Limited of Tanzania. Drill core samples (NQ) are cut in half by a diamond saw on site. Half of the core is retained for reference purposes and half is sent for analysis. Samples are generally collected in 1.0m intervals or less at the discretion of the site geologists. Sample preparation is completed at the ALS Chemex preparation lab in Mwanza, Tanzania. Sample pulps are sent by courier to ALS Chemex analytical laboratory in Vancouver, Canada. Blank samples and commercially prepared and certified Ni sulphide analytical control standards with a range of grades are inserted in every batch of 20 samples or a minimum of one per sample batch. Analyses for Ni, Cu and Co are completed using a peroxide fusion preparation and ICP-AES finish (ME-ICP81). Analyses for Pt, Pd, and Au are by fire assay with an ICP-AES finish (PGM-ICP23).

The quality control, technical information and all aspects of the exploration program were supervised by Patricia Tirschmann, P.Geo., Vice President of Exploration for CNI. Ms. Tirschmann is a qualified person as defined by National Instrument 43-101.

About Continental Nickel

Continental Nickel Limited is an exploration company focused on developing and advancing nickel sulphide exploration projects in geologically prospective, but under explored regions globally. Continental Nickel has 26,933,000 shares issued and outstanding (29,338,415 on a fully-diluted basis) and trades on the TSX Venture Exchange under the symbol CNI.

An Annual General Meeting of Shareholders is scheduled for 4:00Pm, November 22 to be held in Toronto at the St. Andrews Club and Convention Centre, at 150 King Street West, 27th Floor.

On behalf of

Continental Nickel Limited

Craig MacDougall, President & Chief Executive Officer

CAUTIONARY STATEMENT: No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This News Release includes certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization and reserves, exploration results, future plans and objectives of Continental Nickel Limited, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Continental Nickel Limited's expectations are the risks detailed herein and from time to time in the filings made by Continental Nickel Limited with securities regulators.


Summary of Assay Results, Nachingwea Project, Tanzania.

-------------------------------------------------------------------------
Drill Target Location Az/ Hole From To Inter- %Ni %Cu %Co
Hole (local Dip Length (m) (m) val
(NAD07-) grid) (m) (m)
-------------------------------------------------------------------------
018 NAD13 4430N, 050/ 283.3 19.0 23.0 4.00 0.76 0.10 0.02
area 2681E -55

-------------------------------------------------------------------------
" 89.4 89.9 0.50 5.88 0.51 0.10
-------------------------------------------------------------------------
019 NAD13 4400N, 050/ 175.6 48.95 50.85 1.90 17.11 2.71 0.19
area 2732E -69

-------------------------------------------------------------------------
020 NAD13 4400N, 050/ 275.5 72.45 72.85 0.40 9.92 1.56 0.14
area 2704E -70

-------------------------------------------------------------------------
" 194.7 207.75 13.05 0.62 0.16 0.02
-------------------------------------------------------------------------
021 NAD13 4350N, 050/ 151.2 NSA NSA NSA NSA
area 2730E -50

-------------------------------------------------------------------------
022 NAD13 4350N, 050/ 100.6 NSA NSA NSA NSA
area 2730E -80

-------------------------------------------------------------------------
026 H 4100N, 050/ 151.32 61.70 63.75 2.05 3.52 0.38 0.06
2800E -65 Incl-
udes:
63.30 63.75 0.45 14.75 1.12 0.23
-------------------------------------------------------------------------
028 H 4100N, 050/ 127.5 66.45 76.00 9.55 7.50 1.15 0.10
2800E -80 Incl-
udes:
66.45 70.45 4.00 15.31 2.53 0.19

73.50 76.00 2.50 4.02 0.21 0.05
-------------------------------------------------------------------------
(i) Note: Intervals represent core lengths, not necessarily true widths.
Pt, Pd and Au assay results are not reported because in general, they
are less than 1.0 g/t on a combined basis.
(ii) NSA - No significant assays.

[jackt]

A bit confusing, really. If the sp rise is due to the CNI announcement, then why go on a trading halt? It's already public knowledge. I don't think it can be a capital raising event, as GDM has $24M in the bank as at 30.09.07.

[shasta]

A bit confusing, really. If the sp rise is due to the CNI announcement, then why go on a trading halt? It's already public knowledge. I don't think it can be a capital raising event, as GDM has $24M in the bank as at 30.09.07.

Probably Cairns Hill just to p*** me off :mad:

Tricha strikes again, getting back in just in time!

[STRAT]

Probably Cairns Hill just to p*** me off :mad:

Tricha strikes again, getting back in just in time!Just got in and turned on the PC to find.......:D
Confusing is right but I dont think it is Cairns Hill. GDM is my biggest holding :D:D

[STRAT]

I wonder if it will hold tomorrow or slide. I suspect a few traders jumped in today expecting the ann to be the JV and not wanting to miss the boat only find out its drill results for Continental Nickel.

[shasta]

I wonder if it will hold tomorrow or slide. I suspect a few traders jumped in today expecting the ann to be the JV and not wanting to miss the boat only find out its drill results for Continental Nickel.

What about UNX - GDM holds 33m shares in the Uranium explorer? (Though GDM recently said they were committed to UNX)

Im still thinking its to do with Cairns Hill, either

1. They have a chinese partner/supply agreement/JV?

2. The award of the actual Cairns Hill mining license (this was earmarked in the last 1/4ly)

[jackt]

Checked if there's any latest and extraordinary news on UNX and CNI. None that I could find. So dare we hope that it's a T/O? But why GDM? Considering that there're several junior miners around with great potential, maybe it's just my pipe dream.

[shasta]

Checked if there's any latest and extraordinary news on UNX and CNI. None that I could find. So dare we hope that it's a T/O? But why GDM? Considering that there're several junior miners around with great potential, maybe it's just my pipe dream.

As a long shot, what about the Lonmin JV for PGM's :confused:

Lonmin is the worlds 3rd largest Palladium/Platinum producer & precious metals look set for a great 2008.

Am wishing i held on to my GDM shares now!

[jackt]

The Lonmin JV is only at the early stages of detailled helimag and VTEM surveys. No extraordinary news either. By the way, I recall reading a number of analysts reports on various junior miners in which these analysts expressed downright disdain for resource indications that are based on early stage surveys. Having had my fingers burnt a few times, I have finally learned to heed the caution of the more critical analysts.

[STRAT]

Dunno fellas the intraday just looks like the effect of leakage about the ann in the morning followed by a reaction to the ann in the arvo. Why a trading halt? makes no sense unless they were concerned about the pre ann price rise being a bit of a bad look.

[shasta]

Dunno fellas the intraday just looks like the effect of leakage about the ann in the morning followed by a reaction to the ann in the arvo. Why a trading halt? makes no sense unless they were concerned about the pre ann price rise being a bit of a bad look.

No speeding ticket issued, so the TH must be valid & they have 2 days to make the ann, else will need to be temporarily suspended from trading.

I can only surmise if it's not corporate activity, it may be some great drill results that the ASX wants to look over (non JORC/JORC?).

Didn't the ASX instigate the halt?

[jackt]

But the halt was lifted only a few hours later. It's been business as usual since. I think Strat has the best explanation to this mini-mystery.

[STRAT]

Didn't the ASX instigate the halt?No, requested by GDM pending an ann. The ann was released and trading resumed today.
Damn, Im out of the country all next week and not sure if I can keep an eye on things. Might just put a sell order in for $1.20 just in case lol :D

[tricha]

Great announcement with excellent Nickel intercepts for Continental Nickel.

Cairn Hill still to come in ;)



21 November 2007
The Manager
Company Announcements Office
Australian Stock Exchange Limited
4th Floor
20 Bridge Street
SYDNEY NSW 2000 Pages: 7
By Electronic Lodgement
Dear Sir
Re: Press Release - Continental Nickel Ltd (Canada)
CNI Announces First Drill Results - New Mineralized Zones Discovered at Nachingwea
Please find attached a press release made to the Toronto Stock Exchange at 10 pm WDST by
Continental Nickel Ltd, a Canadian publicly listed company of which Goldstream Mining NL has
a 53.03% direct interest and a 30% direct free carried interest in the Nachingwea project
licences.
Yours faithfully
KIMBERLY G FRANCE
COMPANY SECRETARY
20 November 2007
Press Release

C

ONTINENTAL NICKEL ANNOUNCES INITIAL DRILL RESULTS FROM THE NACHINGWEA PROJECT, TANZANIA

N


EW HIGH GRADE NI-CU SULPHIDE ZONE DISCOVERED GRADING 7.50% NI, 1.15% CU OVER 9.55 M

Toronto, Ontario (November 20, 2007): Continental Nickel Limited (TSXV: CNI) (“CNI” or “the company”) is
pleased to announce the first drill results from its 70% owned Nachingwea nickel sulphide project in Tanzania.
The Nachingwea project is a 70:30 JV with Goldstream Mining NL (“Goldstream”) of Australia.
The drill holes in this initial program intersected six new zones of magmatic sulphide mineralization, including
the new high grade zone H intersected in drill hole NAD007-028 which grades 7.50% Ni, 1.15% Cu and 0.10%
Co over 9.55 m. The intersection includes a 4.0 m interval of massive sulphide grading 15.31% Ni, 2.53% Cu
and 0.19% Co. Follow up drilling at the NAD013 area discovered by Goldstream Mining in 2006 (located 300m
northwest along strike of the H Zone) has also returned an intersection of 17.11% Ni, 2.71% Cu and 0.19% Co
over 1.9 m from drill hole NAD07-019.

[sparrow]

Somethings gotta give soon..............

At least four chances of something sparking GDM:

1. Good drill results from UNX
2. Ditto from Continental
3. Chinese partner found for Cairn Hill.
4 Exploration news from Lonmin (farming in on GDM projects).

..........ONE DOWN, THREE TO GO !!!!!!!!!!!!!

CONTINENTAL NICKEL SP HELD UP IN TORONTO OVERNIGHT, CLOSED $3.19, down a cent.

[gullyboy]

Sparrow, Continental Nickel share price closed at $3.25 - up $0.05 from the previous day's close.

I agree 1 down and 3 to go but remember with Continental Nickel multiple assay results still pending, including visible nickel sulphide mineralization in 5 additional targets.

[STRAT]

Looks like our little run is over. It will be interesting to see how far we retrace. Still feel comfortable leaving this one in the bottom drawer though. 1 down and 4 to go eh?:D

[sparrow]

Continental Nickel came back about 25 cents in Toronto last night, may explain a little of the weakness today, after all that was the spark to the rise a couple of days ago.

[gullyboy]

Did anyone attend GDM's AGM yesterday?

If so what was the wash-up?

[steve fleming]

Did anyone attend GDM's AGM yesterday?

If so what was the wash-up?

Well, for a start, they changed the company's name.

GDM is now called IMX Resources NL

IMX being an acronym for Investment, mining and exploration.

[steve fleming]

Well, for a start, they changed the company's name.

GDM is now called IMX Resources NL

IMX being an acronym for Investment, mining and exploration.

Per IMX's presentation today:

Market Cap $90.1m
Monthly Volume (shares) 4.7m
Cash (30/9/07) $7.0m
Listed Investments $85.3m
Debt Nil
EV ($2.2m)

An enterprise value of NEGATIVE 2.2million!!!

Have loaded up on these!

[gullyboy]

Yeah SF have got a few of these myself now!

Big shake up of the UNX board today with the resignation of George Kenway and Rob Edwards about 1 hour before the AGM. Obviously they didn't get the votes/proxies for re-election. It will be interesting to see how the market reacts to this tommorrow.

BUT ...... CHECKOUT THE EXPLORATION UPDATE WHICH WAS ALSO RELEASED PRIOR TO THE MEETING. I'm no expert on interpreting these announcements but it looks as though they are thinking that they have more U than they originally thought and that they should have 3 JORC estimates by the end of 2008 (on track for 2 JORC's in 1st Qtr 2008). This does auger well for the 'I' side of IMX.

Cheers and IMXcited.

[steve fleming]

Yeah SF have got a few of these myself now!

Big shake up of the UNX board today with the resignation of George Kenway and Rob Edwards about 1 hour before the AGM. Obviously they didn't get the votes/proxies for re-election. It will be interesting to see how the market reacts to this tommorrow.

BUT ...... CHECKOUT THE EXPLORATION UPDATE WHICH WAS ALSO RELEASED PRIOR TO THE MEETING. I'm no expert on interpreting these announcements but it looks as though they are thinking that they have more U than they originally thought and that they should have 3 JORC estimates by the end of 2008 (on track for 2 JORC's in 1st Qtr 2008). This does auger well for the 'I' side of IMX.

Cheers and IMXcited.

Yep, agree Gullyboy.

IMX/GDM have put their exploration manager onto the UNX board...which can only be postive for GDM

Also some very substantial buying by GDM directors - $290k worth and $85k worth of GDM stock yesterday is encouraging!!

[steve fleming]

Cheers and IMXcited.

Looks like a change of name has made all the difference!!

[I.T.Ancient]

Anyone care to hazard a guess about the trading halt?

[STRAT]

Anyone care to hazard a guess about the trading halt?I'll have a crack.

Chinese Investor on board :D

[sparrow]

Re Trading Halt

I'll have a crack -any of these 4

1. Good drill results from UNX
2. More good drill assays Continental
3. Chinese partner found for Cairn Hill.
4. Exploration news from Lonmin (farming in on GDM projects).

[gullyboy]

Re Trading Halt

I'll have a crack - Possible takeover

Big Nickel miner wants to get its paws on Continental Nickel after the announcement of it's recent drilling results suggested the high likliehood of an economic resource (even at these early stages of drilling). Once it gets hold of the company it will sell off all of the other assets (i.e. 33% UNX, Cairn Hill etc...) and effectively get a controlling interest in Continental Nickel for peanuts.

What do ya reckon!

Nah - probably just announcement of a Chinese partner.

[tricha]

My money is on the long awaited Chinese partener.:D

[gullyboy]

Tricha - Did you end up getting back in?

[tricha]

Only Perilya and bought my ADY back, hopefully it will explode out of the starting blocks when they do the sharesplit, a bit like ARU did early in the year.
The way oil is looking ADY should be able to take advantage of it, Lithium should be worth it's weight in gold.

Great to see your PDZ is flying:D

Cheers

Gullyboy - in the nickel of time

[tricha]

Spot on Sparrow, jumped back in today on Uranex jumping up, as u stated makes GDM look extremely attractive on these terms:cool:

Wrong quote Guyllyboy, but yes, make up for the flogging I'm getting from PEM

[sparrow]

Don't know if this was the reason for the TH, hope not

Continental Nickel Announces Cdn$7.8 Million Placement

IMX Resource NL’s 53.03% owned TSXV listed subsidiary and Nachingwea JV partner, Continental Nickel Limited has announced that it has entered into an agreement with a syndicate of underwriters led by Paradigm Capital Inc., with PI Financial Corp. and Raymond James Ltd. ("Underwriters") to place, on an underwritten basis, 2,610,000 shares at a price of Cdn$3.00 per Share ("Offering") for a aggregate gross proceeds of Cdn$7,830,000. The Underwriters have the option to purchase an additional 390,000 sharesup to 24 hours prior to closing to bring the aggregate gross proceeds to Cdn$9,000,000.

Continental Nickel intends to use the net proceeds of the Offering to accelerate exploration at the Continental Nickel (70%) / IMX Resources (30%) Nachingwea JV nickel project in Tanzania as well as to pursue new exploration property acquisitions and for general corporate activities. The placement will put Continental Nickel into a very strong position financially to follow up on the recent exciting results fromNachingwea and to grow the company.

The board of IMX Resources decided not to exercise its anti-dilution rights under the shareholder agreement with Continental Nickel and IMX Resources will dilute to between 48.33% and 47.7% of Continental Nickel (46.75% and 46.14% on a partially diluted basis after warrants) depending on the final level of the placement.

Continental Nickel will pay the Underwriter a cash commission of 6.5% of the gross proceeds of the shares placed. The Underwriter will also receive options equal to 3.25% of the total number of placed at a price of Cdn$3.00 per share with a term of 18 months from the closing of the Offering.

The Offering is schedules to close on or about January 8, 2008 and is subject to certain conditions including the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The placement shares will be subject to a 4 month statutory hold period from closing and the Offering.

[sparrow]

Also note two directors buying shares on market late November - see ANN yesterday

[STRAT]

The CN ann is not exactly what we were hoping and directors buying in November I suspect means real good news may not be till next year

[STRAT]

Trading Halt :D Nice to have some excitement just before Christmas

[sparrow]

Trading Halt :D Nice to have some excitement just before Christmas

............Or another huge let down, as is the norm with their post trading halt announcements.....

Though I hope I'm wrong for once.

[steve fleming]

............Or another huge let down, as is the norm with their post trading halt announcements.....

Though I hope I'm wrong for once.

The annoucement was dated 23 Dec (ie Sunday) - so somethings come up over the weekend.

Also CNI was up 10% (27 cents) on the TSX on Friday, on decent volume - so quite possibly CNI related...will have to check the TSX when it opens.

Hopefully though its Cairn Hill related...

[jackt]

If IMX does not exercise its anti-dilution rights re: CNI, then its controlling interests will reduce, won't it? And if the TH is about CNI's capital raising, then I wonder whether the major shareholders will be all that happy with the directors' decision.

Reminds me of PTD's (now AAH) odd decision to allow a significant dilution to its 36% shareholding in Domantis just a few months before selling the lot to GSK for $138M profit. Perhaps I missed the crucial point embedded amidst all the hype.

Any interesting IMX news on the TSX front, Steve?

[Huang Chung]

My money is on the long awaited Chinese partener.:D


Looks like you got your Christmas present a couple of days late Tricha. :)

http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00799651

[Tok3n]

85c placement

Lovely!

[sparrow]

Very good result, happy for all holders, even newbies like me.
Tricha -may be time to change the thread to "IXR", please

[STRAT]

Very good result, happy for all holders, even newbies like me.
Tricha -may be time to change the thread to "IXR", pleaseCongrads to those who held on or got back in. :D

newbie ??? Sparrow I had you picked as a wize old owl

Just had a look at the depth, Not much for sale;)

[STRAT]

Geez that was a short rally. Up to 79.5 and on the way down again. This stock is truely unloved by traders, the question is why? Is it just the DOW being down over night or something more?

[Hoags]

At a guess, instos all on holiday. Serious money will go into this in the new year IMO. How do we get the thread name changed?.... or do we start a new one and link the old one maybe?

[tricha]

At a guess, instos all on holiday. Serious money will go into this in the new year IMO. How do we get the thread name changed?.... or do we start a new one and link the old one maybe?


Put in a request to the Sheriff to change the name, guess he is on holiday.


Hi Sheriff

Pleae change the name as it has been renamed.

Cheers

New name IXR ( IMX Resources ) A new diversified metal mining house
http://www.sharetrader.co.nz/images/statusicon/user_online.gif

[deano]

check out todays fin review for top 20 picks for 2008.
IMX is at number 15.

[STRAT]

check out todays fin review for top 20 picks for 2008.
IMX is at number 15.Got a link for that Deano?:D

[deano]

link here but you need to be an AFR member
http://afr.com/home/viewer.aspx?ATL://20080105000020149697&title=20+stocks+to+watch+in+2008

i can scan the article in tomorrow

[STRAT]

link here but you need to be an AFR member
http://afr.com/home/viewer.aspx?ATL://20080105000020149697&title=20+stocks+to+watch+in+2008

i can scan the article in tomorrowIm not a member so if you would post it that would be great and much appreciated:D

[Huang Chung]

Deano, Strat

I've started a new thread, 'AFR Top 20 for 2008', where I've listed the 20 stocks. Suggest that if someone scans the article, they post it to that thread.

Cheers H.C.

PS...it was an alphabetical listing, so the number 15 is meaningless.

[tricha]

Geez that was a short rally. Up to 79.5 and on the way down again. This stock is truely unloved by traders, the question is why? Is it just the DOW being down over night or something more?

Its under the radar Strat of most investors, they do not understand how this comany is finally coming out of the woodwork, has a new Chairman of the board who is dynamic, a new name and they will soon be a producer.
With very little cost to us shareholders and still only 180 million shares, they are into many metals and the beauty of it is, someone else is paying.

The upside is as I have stated from day one, is they have found hotspots from magnetic surveys that make Prominent Hill look like a dim light.
They own the tenaments on the same system, now Cairn Hill is underway, watch this space ........................................


28 December 2007



MAJOR CHINESE STEEL GROUP INVESTS IN IMX RESOURCES AND


SECURES OFFTAKE PARTNERSHIP FOR CAIRN HILL ORE

The Board of IMX Resources NL (ASX:IXR) is pleased to announce it has signed a detailed
Heads of Agreement with Jilin Tonghua Iron & Steel (Group) Mining Co., Ltd (“Tonghua Mining”)
for the offtake of Cairn Hill ROM magnetite / copper ore in South Australia and a share placement
at 85 cents per share to raise $13.93 million.

The sales offtake arrangement is Tonghua Iron & Steel’s first foray into the Australian resources
sector.



Sales Offtake

In terms of the agreement, Tonghua Mining will purchase 100% of the production of Cairn Hill
ROM ore from the initial project at approximately 1.2 million to 1.4 million tonnes per year, for a 3
year period, subject to extensions, at market related prices, for both the magnetite and contained
copper. The ore will be sold on a FOB basis with the target shipping specification averaging >55%
Fe and 0.43% Cu. The prices are benchmarked using international traded prices with adjustments
being made for processing and logistics costs.

Tonghua Mining plans to construct a processing facility in China to process the Cairn Hill ore to
produce a high grade magnetite concentrate and a copper / gold concentrate. Tonghua Mining
also has the first right of acceptance for any additional production over the 1.4 million tonnes per
year.

At the cessation of the sales offtake contract, IMX Resources will have the first right to purchase
the processing facility at market price.

IMX Resources’ Managing Director Duncan McBain said the partnership is the most significant
milestone to date for the Cairn Hill project in South Australia.

“Securing a major Chinese investment partner is critical to the ongoing development of Cairn Hill
as the company moves towards first shipment in Q4 2008.” Mr McBain said.

“This sales and offtake arrangement is Tonghua Iron & Steel’s first foray into the Australian
resources sector and represents the culmination of a 15 month search for the most suitable
partner to process the unique iron, copper and gold Cairn Hill orebody.

Tonghua Mining has the necessary technical expertise to float off the copper from the magnetite
to enable the recognition of the copper value in the ore.”


Share Placement

To further demonstrate the strength of the relationship, Tonghua Mining will subscribe for
16,394,000 fully paid ordinary shares in IMX Resources at a subscription price of 85 cents, a
premium to market. After the completion of the placement Tonghua Mining will hold 9.99% of the
issued capital in IMX Resources on an undiluted basis.

The funds from the placement will be used for the development of Cairn Hill.

Duncan McBain said “Importantly these funds are expected to substantially cover the required
equity component of any capital requirements to get Cairn Hill into production.”

In the next 12 months should IMX Resources place further shares, Tonghua Mining will have the
right to acquire 9.99% of any such placement at the then placement price, provided Tonghua
Mining has maintained its shareholding.

Mr Zhang Zhixiang, Vice Chairman of Tonghua Iron & Steel (Group) Co Ltd said:

“We have chosen IMX Resources for our first offshore investment as we like the assets in the
company and share the same vision as the IMX Resources board to grow the company. We look
forward to working with IMX Resources to build value for all shareholders.”



Strategic Alliance Covering Mt Woods Tenements

IMX Resources and Tonghua Mining have agreed to negotiate a strategic alliance covering IMX
Resources Mt Woods tenements and any similar magnetite – copper – gold mineralisation that
may be offered to IMX Resources. The strategic alliance would give Tonghua Mining the first right
of acceptance should IMX Resources seek a joint venture partner for any new discovery within the
Mt Woods tenements on terms to be negotiated at that time.

[STRAT]

Thanks Tricha. IMX is my largest holding and Im still happy with it sitting in the bottom Drawer. 08 should be a good year for GDM provided the world economy doesnt implode :D

[deano]

attached is the article on imx
It is pdf format but was too large so I zipped it up (the forum allows larger zip files!?!)

[STRAT]

attached is the article on imx
It is pdf format but was too large so I zipped it up (the forum allows larger zip files!?!)Thanks Deano, Just make sure you havent bent any copyright rules.

[deano]

Thanks Deano, Just make sure you havent bent any copyright rules.

was wondering about that, but i don't think so because it is about 4-5% of the article and it is referenced.

[STRAT]

So what was wrong with that ann today????:confused:

http://www.asx.com.au/asxpdf/20080109/pdf/316vb5mnzptvhs.pdf

Talk about ya slow blues:(

[MrDevine]

"Smart Money" might think Cairn Hill project is 'marginal' they may want to see increase in Iron Ore prices to provide further interest in the stock. It does seem odd that its getting sold down way below Chinese investment price. However I do remember a similar thing occuring with AGM when Jinchuan brought into them above market value. There is something a little odd with this stock though, could be an insto off loading? Similar behaviour to MCR when AMP were dumping.

This project should be worth 40c PS, then 70c once production starts. So um, a price closer to 90c – $1.00 could be warranted.

Patience?

Mr D Holds.

[steve fleming]

So what was wrong with that ann today????:confused:

http://www.asx.com.au/asxpdf/20080109/pdf/316vb5mnzptvhs.pdf

Talk about ya slow blues:(

Post tax CFs (approx $70m) hardly covers the capex.

most disappointing.

[STRAT]

Aaah yes. Thanks Fellas

[Revhead]

Intersuisse have a spec buy on IXR

http://www.intersuisse.com.au/files/Morning%20Notes.pdf

[tricha]

Thanks Tricha. IMX is my largest holding and Im still happy with it sitting in the bottom Drawer. 08 should be a good year for GDM provided the world economy doesnt implode :D

Bailed out again, hopefully only in the short term, re-focused my holding and decided I needed some gold while this uncertainty remains in the market.

IMX is now on the right track and the future looks bright if the rest of the world boggies on :confused: Thats the 10 million dollar question that one can only base judgement on.

Every one to their own answer. I may be right or horrible wrong.

[STRAT]

Hi Tricha, Me too. IXR was one of my medium term holds and was dumped with the rest while still in profit. In retrospect I should have dumped ADY too. Oh well, lesson learned. No matter how one perceives long term aspirations of a company its still best to trade it on its short-term performance.

.:o

[steve fleming]

Hi Tricha, Me too. IXR was one of my medium term holds and was dumped with the rest while still in profit. In retrospect I should have dumped ADY too. Oh well, lesson learned. No matter how one perceives long term aspirations of a company its still best to trade it on its short-term performance.

.:o

One of the few juniors that has come out of the last few months (relatively) unscathed.

Some VERY strong buying today.

[tricha]

One of the few juniors that has come out of the last few months (relatively) unscathed.

Some VERY strong buying today.

Yes very interesting Steve, especially when a huge part of them was Uranex who are now 44 cents, down from $2.00 ???

[MrDevine]

I sold out of this at 50c at a loss after ann/information on mining cost for Cairn Hill. Magnetite ore not as favoured. IXR been range bound for an awful long time, with spikes up into the 70's briefly. Continue to watch, but not a loved stock.

Mr D.

[steve fleming]

Yes very interesting Steve, especially when a huge part of them was Uranex who are now 44 cents, down from $2.00 ???

Strong buying continues...bid up all week.

Going to be full steam ahead for IXR from now on - trial mining about to start.

Also "
The decision by the board to proceed with the development of the Cairn Hill project
was made in early January based on the 2006/7 iron ore prices. This gave a
cumulative operating pre tax cashflow of $101m (average $18.4m per year) for the
initial 7.3mt of ROM ore in the initial pits. Using current benchmark prices and
exchange rates (copper US$6,715 / tonne, iron ore fines USc80.42 / dmtu and
exchange rates of A$1 = US$0.873). With the settlements in Japan and Korea for
Vale iron ore fines of between 65% to 71% there is considerable upside for the Cairn
Hill project, every 10% increase in the iron ore benchmark price increases the annual
operating pre tax cashflow by approximately $4.0m."

However on the downside, it appears Mt Paisley is a dud.

[steve fleming]

Up another 7% today, strongly bid up through the day it looks.

While Cairn Hill is known as an iron ore mine, copper revenue is obviously important to the profitability of the project as well (copper contributing up to 40% of the project revenue during the first three years).

With the price of copper having gone up approximately 30% on the numbers used in the feasibility calculations, the project is looking more and more attractive by the day.

As I said on this thread previously, IXR is one of my larger holdings, so pleased to see it push on up.

[steve fleming]

A great post by 'Danube' on HC:

"Well, Mr Market still ignores the potential of this little one. I was told only one red tap to cut before IXR can start to dig up.

Let's revisit the numbers, to make sure nothing is getting worst:

14,283,000 shares in Continental Nickel is worth about $40m
30% flow through in Continental Nickel's Tanzania project is worth about $24m
Investment in UNX: 33m shares is worth about $14m
Cash in Hand minus admin $15m

Total investment + Cash = $93m
Market cap: $90m

Carin Hill project is valued at nothing.

What is wrong with Carin Hill Project?
Ship rate: 1.263mpta
Fe Grade: 54.49%
Cu Grade: 0.41%
Average revenue is $61.85/t based on 2008 iron ore price, which is equ to 75% Fe hematite because of Cu and Au credit.

If 65% iron price hike is materialized, the average revenue is about $90/t

The biggest item is the rail cost, it will cost IXR $16/t., even at cost of $46.23/t, it still can make a decent cashflow around $40/t

At current share price price, you PAY NOTHING for near producer (late this year) with $50m annual cashflow.

What is wrong? The Chinese has paid for it at 85c not too long ago.

Why nobody want this one while iron ore is hot than ever?

If you are doing a peer analysis against IFE and TTY, you might find it is hard to believe that IXR is still at such low price."

[steve fleming]

Should get another $2mil + cash as a result of the auctioning of the forfeited partly paid shares.

[corporateraider]

Steve
I agree with you and your numbers on the iron ore. There looks to be good value here.

That they have such a small proven reserve is probably working against the share price.

But I am patiently holding as the price inches up.

[steve fleming]

Post tax CFs (approx $70m) hardly covers the capex.

most disappointing.




While Cairn Hill is known as an iron ore mine, copper revenue is obviously important to the profitability of the project as well (copper contributing up to 40% of the project revenue during the first three years).

With the price of copper having gone up approximately 30% on the numbers used in the feasibility calculations, the project is looking more and more attractive by the day.

As I said on this thread previously, IXR is one of my larger holdings, so pleased to see it push on up.

Refer page 22 of today's presentation.

http://stocknessmonster.com/news-item?S=IXR&E=ASX&N=411169

Expected project CF has more than doubled!!!!(assuming 65% fe increase)

Plus lots of references to resource upgrades!

Excellent!!!

[steve fleming]

Refer page 22 of today's presentation.

http://stocknessmonster.com/news-item?S=IXR&E=ASX&N=411169

Expected project CF has more than doubled!!!!(assuming 65% fe increase)

Plus lots of references to resource upgrades!

Excellent!!!


Per the 1/4ly today – expected annual pre tax operating cash flow for Cairn Hill has increased from $18mil to $50mil!!! We are talking big dollars now.

I am in pretty regular contact with Duncan McBain, the MD of IMX, and he is incredibly passionate and committed to bringing Cairn Hill into production quickly and progressing IXR to become a mid-tier miner.

Duncan is of the view that there is probably 3 years left of high Chinese iron ore prices and wants to make as much money from Cairn Hill in the short term.

The research I’ve seen from a number of analysts agree that there is likely to be a large iron ore market supply post 2012 as newcomers to the seaborne market (including FMG, CSN, MMX, and Arcelor Mittal) come on board, as well as ramp up in production of existing Fe producers such as BHP Billiton, Vale, and Rio Tinto….

Something else that Duncan has said is that lot of the current Fe production being brought on stream, including by Rio , is getting lower & lower grade which will impact on blast furnace productivity & customers will be looking for higher quality blend material.

By offering high quality premium grade ore, IMX has a big competitive advantage.

[steve fleming]

I am in pretty regular contact with Duncan McBain, the MD of IMX, and he is incredibly passionate and committed to bringing Cairn Hill into production quickly and progressing IXR to become a mid-tier miner.


Nice to see Duncan buying on-market.

[shasta]

Nice to see Duncan buying on-market.

Presentation out:

http://www.stocknessmonster.com/news-item?S=IXR&E=ASX&N=418839

Amazes me how it still trades with an EV of just $6m :eek:

[gullyboy]

Are you thinking of getting back in Shasta?

The directors continue buying. Thats gotta instill some confidence.

[shasta]

Are you thinking of getting back in Shasta?

The directors continue buying. Thats gotta instill some confidence.

No not at present, IXR does not meet my new investment criteria.

It is however an undervalued miner that has some nice projects :cool:

[STRAT]

No not at present, IXR does not meet my new investment criteria.

It is however an undervalued miner that has some nice projects :cool:Its been under valued , like , forever :D
Steve seems keen though. Perhaps there is something in that ;)

[shasta]

Its been under valued , like , forever :D
Steve seems keen though. Perhaps there is something in that ;)

IXR - Cairns Hill update...

http://www.stocknessmonster.com/news-item?S=IXR&E=ASX&N=420123

[shasta]

IXR - Cairns Hill update...

http://www.stocknessmonster.com/news-item?S=IXR&E=ASX&N=420123

IXR - Sept Quarterly

http://www.stocknessmonster.com/news-item?S=IXR&E=ASX&N=424919

[tricha]

Its been under valued , like , forever :D
Steve seems keen though. Perhaps there is something in that ;)

Whats in that is they missed the boat and iron ore is screwed, they were a year behind the 8 ball :(

[ellj13]

Hi all,
Has anyone got this on there watchlist?
I've been following it for a while. The only thing seemingly stopping it from producing ore out of Cairns Hill is the completion of a finance deal, which Duncan McBain is aiming to sow up by years end.
This announcement could be something to look out for because once secured this may be a producer within 4 months which will give the shareprice a nice (long awaited) rise.

disc: I hold a few

[corporateraider]

Share your thoughts and also hold a few.

[burtsboy]

Iron ore shipment bound for China

The first shipment of iron ore from the Cairn Hill mine in South Australia's far north has arrived at Port Adelaide.

The 62,000-tonne consignment has been loaded for shipment to China.

The Cairn Hill mine began production in August and is a joint venture between IMX Resources and Chinese company Sichuan Taifeng.

The mine will produce about 1.7 million tonnes of ore per year when it reaches full production.

[tricha]

Iron ore shipment bound for China

The first shipment of iron ore from the Cairn Hill mine in South Australia's far north has arrived at Port Adelaide.

The 62,000-tonne consignment has been loaded for shipment to China.

The Cairn Hill mine began production in August and is a joint venture between IMX Resources and Chinese company Sichuan Taifeng.

The mine will produce about 1.7 million tonnes of ore per year when it reaches full production.

Hi Burtsboy

I had all but forgotton about this one, my mate in Kal will be happy, he held quite a few. Good on them for finally delivering the goods.

[sparrow]

How's your status with McBain at the moment, Steve.
Any idea what the trading halt is about?

Sparrow

[steve fleming]

How's your status with McBain at the moment, Steve.
Any idea what the trading halt is about?

Sparrow

Sorry Sparrow, I no longer hold.

But i assume it is a re-negotiation of one of the Chinese off-take agreements.

[shasta]

IXR - Resignation of Duncan McBain

http://stocknessmonster.com/news-item?S=IXR&E=ASX&N=553628

Been a long time since i held IXR (formerly GDM) but I always found Duncan McBain very approachable & a decent bloke.

Steve - Your thoughts on where to from here for IXR?

Big boots to fill in, wonder whats behind the move?