GIR Giralia/Carpentaria Exploration Ltd

[donnie]

Looks like a pretty good float. coming soon


Mt Agate, Qld (copper/uranium) – in the Cloncurry area of Queensland. Prospective for iron oxide copper-gold-uranium mineralisation (IOCG). At the Mt Devoncourt prospect, historical records indicate shallow drill intersections of 30.5 metres @ 1.25 % copper, and 12 metres @ 2.55% copper, and at the QMH prospect, a single RC hole beneath a 650 metre by 250 metre zone of magnetite and hematite veining, returned a 28 metre zone of in excess of 0.1 % copper.

Glen Isla, NSW (gold) – covers the Kyalite and Glen Isla epithermal gold prospects, near Tomingley in New South Wales. Previous drill holes have returned elevated gold values over substantial thicknesses. Examples include 39 metres @ 0.46 g/t gold, 49 metres @ 0.43 g/t gold and 72 metres @ 0.31 g/t gold within 396 metres @ 0.13 g/t gold.

Cargoon, Qld (nickel) – located 150 kilometres west of Charters Towers in NE Queensland. Includes a substantial gossan outcrop at the Brady's Reward prospect, where previous rock chip sampling returned up to 1.5% nickel and 1.2% copper. Mineralisation is interpreted to be a possible analogue of skarn style nickel sulphide mineralisation at the Avebury deposit in western Tasmania.

Combaning, NSW (nickel, gold) – covers parts of the Temora and Springdale Goldfields in the Lachlan Fold Belt. Significant previous drilling results include: 40 metres @ 0.79 g/t gold from 14 metres, and 10 metres @ 1.33% nickel at the Merri Hill Prospect. At the Kangaroo Dick prospect, past drilling has encountered intersections up to 3.9 metres @ 2.2 g/t gold. It is considered that this area also has good potential for nickel sourced from ultramafic rocks known in the licence.

Waterford, Qld (uranium) – sandstone hosted Uranium target in the Eromanga Basin. Prior exploration located a redox front in sandstone which returned 2 metres @ 120 ppm uranium in drilling. This application covers this intersection and the interpreted strike of this front.

Lady Inez, Qld (copper) – in central Queensland, covers an area adjacent to the Glassford polymetallic skarn field. The tenement is prospective for copper and precious metal bearing skarn and other intrusive related mineralisation.

Redbank, Qld (nickel) – covers an aeromagnetic anomaly interpreted to have potential for buried nickel laterite mineralisation in the Greenvale area.

Giralia will hold a majority of the post IPO issued capital of Carpentaria, and intends to offer Giralia shareholders a priority entitlement to Carpentaria IPO shares, with the balance of the funds to be raised with the support of the Brisbane office of an international broking firm.

Giralia will manage its retained stake in Carpentaria for the benefit of all Giralia shareholders, including consideration of a subsequent in-specie distribution.

[Huang Chung]

Only found out about the Giralia story in the past couple of days, but have liked what I've seen so far. They have fingers in many pies, including gold, iron ore, uranium and nickel (directly and indirectly) and have a history of working up a prospect and then spinning it off into another company, usually with an in-specie distribution to GIR shareholders. Examples of spin-offs include U308, PacMag Metals and Zinc Co Australia. GIR retains an interest in these spin-offs.

However, what really interests me are their 100% controlled iron ore plays in Western Australia. These are, in the main, direct shipping hematite ore. Beebyn-Weld Range prospect is in WA's MidWest iron ore provence, and is directly along strike from the Midwest/Sinosteel JV. The Earheedy prospect, 200km south of Newman, could be very big.

With positive noises about iron ore prices, I thought GIR was worth a punt.

[Huang Chung]

GIR is galloping along at a fair clip at the moment on good volumes.

This is an interesting story, and a look at their latest presentation is well worth the effort.

[Huang Chung]

Up another 10% today. Going great guns. :)

[tbone]

The question us will it keep running come monday. Cheers

[Huang Chung]

Who knows....it might get t-boned, tbone....

I'm up about 25% from when I first posted a couple of days ago, so GIR probably needs a bit of a spell.....lots of momentum though, which is hard to ignore.

[Huang Chung]

Hadn't noticed earlier, but GIR got issued with a speeding ticket today. Response hits upon the iron ore aspect that I mentioned in my original post.

http://stocknessmonster.com/news-item?S=GIR&E=ASX&N=380711

[Huang Chung]

The blood was flowing freely at the open today, so I picked up a few more GIR. Order only partially filled before coming off the days lows. With luck, I'll pick up the balance of the order tomorrow.

Meanwhile, PacMag (GIR holds 11%) put out an interesting announcement today.

http://stocknessmonster.com/news-item?S=PMH&E=ASX&N=380878

[Huang Chung]

More drill results released today. From the summary:

"Further strong intersections of hematite iron ore from resource drilling at Giralia's 100% owned Beebyn-Weld Range project.

Assay results have been received for the first 9 holes of the current program and include:

RCB033 43 metres @ 57.5% Fe, includes 20 metres @ 61.6% Fe (open at end of hole)
RCB035 28 metres @ 59.4% Fe, includes 18 metres @ 63.1% Fe."The Beebyn-Weld Range project is immediately along strike from the Midwest Corporation / Sinosteel JV. "Rail infrastructure is proposed right to Giralia's doorstep."

An initial resource estimate is expected before the end of the quarter.

[Huang Chung]

GIR is going like a steam train :)

Share price up 50% from my first post a fortnight ago. Up 22.3% just today.

Quarterly activities report attached below.

http://stocknessmonster.com/news-item?S=GIR&E=ASX&N=382963

I sold a few of mine late today, hoping to re-enter on any correction tomorrow.

[Huang Chung]

Talking to myself here unfortunately.....

GIR up on another 17% today. Took profits after a great run over the past 2 weeks. :D

[pago]

hi hg,im not selling.it may take a while but i can see $2,gir has many other irons in the fire.i must admit with so many iron ore cos uping resources/production the supply must meet demand,but not yet,cheers pago.

[Huang Chung]

Pago, the way GIR is travelling, you have every chance of seeing $2 or more. I knew it was a good story, but was just concerned that the rise might be a case of 'too far too fast'. Don't worry, I'm set to buy back in if there is a pull-back, but I don't know if I'll get that chance or not.

Anyhow, good luck with your holding Pago.

[pago]

Pago, the way GIR is travelling, you have every chance of seeing $2 or more. I knew it was a good story, but was just concerned that the rise might be a case of 'too far too fast'. Don't worry, I'm set to buy back in if there is a pull-back, but I don't know if I'll get that chance or not.

Anyhow, good luck with your holding Pago.

hi found the other gir thread cheers pago

[Huang Chung]

Pago, the way GIR is travelling, you have every chance of seeing $2 or more. I knew it was a good story, but was just concerned that the rise might be a case of 'too far too fast'. Don't worry, I'm set to buy back in if there is a pull-back, but I don't know if I'll get that chance or not.

Anyhow, good luck with your holding Pago.

My second breakout call of the week.......

Closed at $1.90 Friday, which was the high for the day and a new high for the stock, after a dip earlier in the week to the $1.60 levels.

Bought back in mid-week at $1.64.

Are you still holding Pago?

[pago]

hi huang chung, yes im still holding gir but not as many shares,there may be faster dollars to be made elsewhere but i see gir as solid ,midterm uptrend.what value the market eventually places on gir depends largely on the iron ore drilling.the results and timeframes.im sure they will succeed.could be $2 in a few weeks,my initial target,or double that in a year.cheers pago.

[Huang Chung]

hi huang chung, yes im still holding gir but not as many shares,there may be faster dollars to be made elsewhere but i see gir as solid ,midterm uptrend.what value the market eventually places on gir depends largely on the iron ore drilling.the results and timeframes.im sure they will succeed.could be $2 in a few weeks,my initial target,or double that in a year.cheers pago.


Completely agree with your sentiment pago.

Bell Potter have put out some research with a $2.41 price target. My guess is that after the recent turmoil, they will be very conservative with their valuations.

[Abracadabra]

Passed the $2 mark today!
Was a bit concerned with the dip last week, but am really glad today that I didn't sell, even though it went below my MUST sell figure.

[Huang Chung]

Passed the $2 mark today!
Was a bit concerned with the dip last week, but am really glad today that I didn't sell, even though it went below my MUST sell figure.

Was a bit wobbly a couple of times today Abra, but finished strongly at $2.05.

I'm up exactly 25% on my purchase made last Wednesday......now if only THAT could happen every week. :)

[Huang Chung]

Out today with that 25% gain. Redeployed funds into buying more Prairie Downs Metals.

Giralia is a great story that will unfold with time. Would happily rebuilt my position at a later date if the circumstances allowed.

[STRAT]

This one has been going strong over the last month

[Huang Chung]

Been trading below cash backing for quite a while now.

[Huang Chung]

Worth keeping an eye out for drilling news on the Southern Hill at GIR's Dalton JV, which directly adjoins Atlas Iron's Mt Webber tenements.

http://www.giralia.com.au/reportDocument/HAO%20Mt%20Webber%2022%20Jun%2009.pdf


http://www.giralia.com.au/reportDocument/4%20May%2009%20-%20Investor%20Presentation.pdf

[Huang Chung]

Whilst mainly a Hematite player, GIR's Yerecoin magnetite project is shaping up to be quite interesting:


High grade/low silica
Course grind
1km from rail (and not a BHP or RIO rail :))
150km from Perth
http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=452577

[Huang Chung]

Seems to be a bit of an IO breakout going on. GIR up a handy 15% today on no news.

[pago]

Seems to be a bit of an IO breakout going on. GIR up a handy 15% today on no news.

huang,very nice,from big charts the 52 week high was $1.78 on 31/7/08.72c today on above volume.we need project progress,cheers pago

[Huang Chung]

Should be plenty of drilling this half Pago :).

[Huang Chung]

Quarterly out.

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=454220

Drilling has now commenced at the main southern hill at the Dalton's JV. This is an extention of Atlas Iron's Mt Webber Project, so I'd expect we could get a nice move if the grade and widths replicate what AGO have across the fence.

Topped up with a few more today :cool:.

[Huang Chung]

Seems to be a bit of an IO breakout going on. GIR up a handy 15% today on no news.

Held that gain and ran up another 7.6% today on very healthy volumes.

The iron ore sector seems to be going for a nice run, no doubt helped by BHP's better than expected iron ore price negotiations happening at the moment.

Waiting very keenly for the first drill results from the main southern hill at Giralia's Daltons JV. With some luck, these results could be as good as what Atlas achieved just over the boundary line :rolleyes:.

[soulman]

Well done HC. I sold on Wed for no apparent reason at all, ignoring my target price of 77 cents. Instead you add more. I got punished for being impatient. I have been punished a lot lately.

[Huang Chung]

Soulman, its always hard to know when to cash in your chips. After a nice run, I reckon Giralia is at least a short term hold ahead of the Dalton JV drill results, and a buy if there is a bit of a pullback to the low 70s.

EV of around $50m, with about $70m in the bank, another $5m in listed investments, and something like 300 holes to drill in the current and near future exploration programs.

Seems like a pretty easy story to me :rolleyes:.

[Huang Chung]

Worth keeping an eye out for drilling news on the Southern Hill at GIR's Dalton JV, which directly adjoins Atlas Iron's Mt Webber tenements.

http://www.giralia.com.au/reportDocument/HAO%20Mt%20Webber%2022%20Jun%2009.pdf


http://www.giralia.com.au/reportDocument/4%20May%2009%20-%20Investor%20Presentation.pdf

First drill results from the main southern hill at the Daltons JV released today.

Bellissimo! :).

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=455418

[soulman]

Well done HC. GIR looks good. I will look to re-enter.

Anyway, do you know how they got the massive cash reserve?

[Huang Chung]

This should help you understand GIR's cash position Soulman.

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=400184

It should also be noted that GIR have a history of working up projects and then spinning them out, usually as some sort of in-spicie distribution to shareholders.

I was told recently that with Giralia, any of their projects are for sale....at the right price :rolleyes:.

[soulman]

Thanks HC. A very solid stock. Just pondering that maybe I should have bought $10 million dollars worth of GIR when it was hovering around 30 cents about 6 months ago. I just need the $10 million as a starter.

[Huang Chung]

Thanks HC. A very solid stock. Just pondering that maybe I should have bought $10 million dollars worth of GIR when it was hovering around 30 cents about 6 months ago. I just need the $10 million as a starter.

Yeah, good one soulman. Wouldn't be wonderful if we all had to live with that kind of regret :D.

A bit of profit taking today. If my memory serves me correctly, Daltons will see a total of 42 holes drilled in the current program, with just under 400 holes to be drilled across other prospective tenaments.

Ahhhh, the wonder of having $70m in the bank :).

[Huang Chung]

More great results at the Dalton's JV.

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=456875

Iron Ore play still flying very much under the radar.

[Huang Chung]

More good IO drill results from the Mt Webber prospect, which is part of the Daltons JV (GIR 75%).


"Results are awaited for 5 holes, following which an initial resource estimate will be commissioned incorporating all drilling data from this first drill phase. Additionally a scoping level mining study will investigate development options. Importantly, Mt Webber is potentially close enough to Port Hedland to allow contemplation of road transport."

Shaping up to be as good as Atlas Iron's Mt Webber resource, which is next door.


http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=457442

[Huang Chung]

The results for the last 5 drill holes is in, and it looks as if Giralia have saved the best till last.

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=457774

Totally ignored by the market, but that's OK, as it's letting me pick up an additional 30,000 shares on the cheap.

[soulman]

I again managed to luckily picked up some GIR last week for 71 cents and enjoyed this rise to the 80's. A bout of selling take this baby to negative at closed. I decide to hold on to this a little longer because I felt it might actually breaks 80's this time and go on to the mid 90's.

You must be thrill with your recent purchase.

[Huang Chung]

I again managed to luckily picked up some GIR last week for 71 cents and enjoyed this rise to the 80's. A bout of selling take this baby to negative at closed. I decide to hold on to this a little longer because I felt it might actually breaks 80's this time and go on to the mid 90's.

You must be thrill with your recent purchase.

Extremely happy with GIR Soulman. This one is a buy and hold for me. Nice to see the bounce after lunch yesterday (just after a small top up at 76c around lunchtime :))

They should come out with an initial resource for Mt Webber sometime very soon. Judging by the drill results and area covered, I'd imagine it will be reasonably similar to Atlas Iron's 32 million tonnes across the fence. Great thing about this resource is that its within economic trucking distance of the port...no need to suck up to Twiggy or BHP. A year ago, this area was only noted for its nickel potential, not iron ore.

The mid-west rail and Oakajee port will make Beebyn-Weld Range and Beebynganna a reality.

Yerecoin just a short drive north of Perth, looks to be an exceptional quality magnetite deposit located just a km from accessable rail.

Earaheedy...big moma :cool:. What can you say...something like 130km and 23 hills to test. Giralia were first movers here in the eastern Pilbera, so have probably picked some choice ground. Time will tell.

Lake Frome....next door to the Four Mile Uranium project wich is a JV between Alliance and Quasar. Giralia have a similar deal with Quasar. I'd imagine that Lake Frome will either be sold to Alliance/Quasar, or it will be seperated from Giralia, most probably via an in specie distribution to Giralia shareholders. Can't see GIR management diverting from their iron ore focus.

One things for sure though Soulman, this will all take time to evolve. With something like $70m in the bank, they have the juice in the tank to push these projects along, without having to tap shareholders again and again.

If I were you, I'd stick a few in the bottom draw ;).

[Huang Chung]

Running nicely.

Mt Webber Resource statement can't be too far away.
Yerecoin study progressing.
Heaps more drilling to come in the next few weeks and months.

All equals a lot of news flow....

[Huang Chung]

Borrowed from HC...

After reading another post which mentioned other iron ore companies' progress, I sent an email to Giralia today saying that I was concerned about the perceived tardiness of the company when it come to acually mining any of its major iron ore resoures.

Here is Mike Joyce's reply:

Thank you for your enquiry. Giralia's strategy for its iron ore assets has been consistent and has been repeated in several presentations released to market in the last year or so. The Company has 7 iron ore projects in Western Australia which are being drilled to establish iron ore resources. Despite delays due to permitting drill programs this work is nearing completion, with initial resources announced for 4 projects and first resource for the Mt Webber discovery expected within days. Scoping level mining studies have been commissioned for 2 projects. The projects will then be evaluated on a case by case basis. Iron ore is all about infrastructure, and only projects with access to rail transport or close enough to to a port with spare capacity to allow road transport can be developed. The competitors you mention (UMC, FRS, BRM) presently meet none of these criteria as their projects are too far from port to use road haulage. Nor is there sufficient port capacity for their rather ambitious forecast production. All 3 have indicated that their projects require new rail and port infrastructure at cost +$ 1 billion and construction at least 4 years away. Giralia is focussing its attention on 2 projects close enough to port to contemplate early development (Mt Webber, and Yerecoin) with access to existing open rail (Yerecoin) or road haulage (Mt Webber).
Talking about mining is different to mining. Giralia will release results from its Scoping studies and inform the market of any plans to develop its assets only when we have the resource, the infrastructure and the ability to fund our proposed mine(s).

regards
Mike Joyce

[soulman]

Good stuff HC. The chart say no but I decided to offload GIR. If the market does correct, I feel all stocks would drop a little, even thought the big banks and company in the ASX 100 be the one to take the hit. So GIR might do fine.

[Huang Chung]

Initial resource statement for the Mt Webber discovery expected within days Soulman.....probably the reason for the recent strengthing in price, but I'd say more gains are in the pipeline.

[Huang Chung]

More good IO drill results from the Mt Webber prospect, which is part of the Daltons JV (GIR 75%).

Shaping up to be as good as Atlas Iron's Mt Webber resource, which is next door.




OK, I was wrong....initial resource is substantially better than Atlas Iron's initial resource across the fence :).

Giralia's interest is 75%, so net 30 million tonnes. More targets identified.

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=459996

[soulman]

It did put a spark in GIR SP early but died down at the end.

The September/October month might be the one the market start to deteriorate so maybe can pick up GIR on the cheap again, hopefully in the late 70's.

[Huang Chung]

I resisted the temptation to add a few more today Soulman, though I was tempted with the pullback in the afternoon.

Next cab off the rank could be the study into the Yerecoin magnetite deposit. I would expect this to be positive as well, given the high quality nature of the resource and its proximity to infrastructure.

[shasta]

I resisted the temptation to add a few more today Soulman, though I was tempted with the pullback in the afternoon.

Next cab off the rank could be the study into the Yerecoin magnetite deposit. I would expect this to be positive as well, given the high quality nature of the resource and its proximity to infrastructure.

HC

I spotted this article whilst browsing the business news...

DJ Aditya Birla Loses Copper Tenements, Juniors Jockey For Ground

SYDNEY, Sep 16, 2009 (Dow Jones Commodities News via Comtex) --


Copper miner Aditya Birla Minerals Ltd. (ABY.AU) said Wednesday it has lost the right to eight exploration tenements in Western Australia state close to its Nifty copper mine, with three Australian junior explorers submitting applications.

Midas Resources Ltd. (MDS.AU), Giralia Resources NL (GIR.AU) and one privately held company have applied for at least five of the tenements.

[Huang Chung]

Thanks for that Shasta.

Looks like it will be some sort of lottery to choose the new lease holders, assuming ABY don't get their leases back through the courts.

http://www.tradingmarkets.com/.site/news/Stock%20News/2529406/

Not really expecting GIR to gain from this drama, but its nice to see that the management team is on the ball all the same.

[pago]

Thanks for that Shasta.

Looks like it will be some sort of lottery to choose the new lease holders, assuming ABY don't get their leases back through the courts.

http://www.tradingmarkets.com/.site/news/Stock%20News/2529406/

Not really expecting GIR to gain from this drama, but its nice to see that the management team is on the ball all the same.

hi hg im still holding,more to come,are you looking at ssc,cheers pago.

[Huang Chung]

hi hg im still holding,more to come,are you looking at ssc,cheers pago.

Sultan Corporation?? Never heard of them Pago. Can you start a thread and give us a heads up?

HC

[shasta]

Thanks for that Shasta.

Looks like it will be some sort of lottery to choose the new lease holders, assuming ABY don't get their leases back through the courts.

http://www.tradingmarkets.com/.site/news/Stock%20News/2529406/

Not really expecting GIR to gain from this drama, but its nice to see that the management team is on the ball all the same.

Another turn with that article is our friend FTE. ;)

No mention of them, but they would surely know the potential

http://www.murchisonunited.com.au/projects/australia---wa.aspx

They have a tie up with ABY too

[shasta]

Another turn with that article is our friend FTE. ;)

No mention of them, but they would surely know the potential

http://www.murchisonunited.com.au/projects/australia---wa.aspx

They have a tie up with ABY too

GIR - Iron Ore Exploration & Development Update

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=460403

Am looking into GIR further, very cheap on a EV basis ;)

[Huang Chung]

EV roughly 75c per JORC resource tonne Shasta.....silly stuff.

Nice to see some target numbers around Big Moma Earaheedy...750-1000mt hematite. Very much their long term project though.....

The drill results today for Beebyn were interesting, but the depth could be an issue. Noticed they mentioned 'wide zones of magnetite rich material were also noted, and initial DTR testwork is planned to establish beneficiation characteristics'. Murchison is right next door, also with both hematite and magnetite. They're trucking the hematite (380km!) and looking to develop the magnetite. Giralia seem to be indicating that, should Beebyn be developed, they'll wait for the rail to come to their door, which will be a couple of years away.

As an aside, if Murchison is trucking their ore 380km to port, it makes Giralia's Mt Webber project look pretty damn good (150km to port), especially as it essentially starts on the surface and has very low levels of impurities.

[shasta]

EV roughly 75c per JORC resource tonne Shasta.....silly stuff.

Nice to see some target numbers around Big Moma Earaheedy...750-1000mt hematite. Very much their long term project though.....

The drill results today for Beebyn were interesting, but the depth could be an issue. Noticed they mentioned 'wide zones of magnetite rich material were also noted, and initial DTR testwork is planned to establish beneficiation characteristics'. Murchison is right next door, also with both hematite and magnetite. They're trucking the hematite (380km!) and looking to develop the magnetite. Giralia seem to be indicating that, should Beebyn be developed, they'll wait for the rail to come to their door, which will be a couple of years away.

As an aside, if Murchison is trucking their ore 380km to port, it makes Giralia's Mt Webber project look pretty damn good (150km to port), especially as it essentially starts on the surface and has very low levels of impurities.

I worked out the EV @ just $30m ($71m cash + ~$5m listed investments)

$30m for all those Iron Ore permits, close to infrastructure, naw :eek:

I saw that conceptual Hematite target resource for Earaheedy, wow

[Huang Chung]

I saw that conceptual Hematite target resource for Earaheedy, wow

Why do you think AMCI is their largest shareholder Shasta?......

EV is around $100m by my calcs (MC $170m - cash -say $65m + investments $5m)

JORC resource 132.4mt.

Therefore, EV around 75c a JORC resource tonne.

[shasta]

Why do you think AMCI is their largest shareholder Shasta?......

EV is around $100m by my calcs (MC $170m - cash -say $65m + investments $5m)

JORC resource 132.4mt.

Therefore, EV around 75c a JORC resource tonne.

Oops i was going off old data (my bad)

Any way you look at it, GIR is cheap as chips.

I'll happily follow you into GIR ;)

[Huang Chung]

Shasta, don't forget about Lake Frome either. Nothing much happening at the moment, but you could be looking at the same system as the Alliance/Heathgate JV next door. Market is ascribing absolutely no value at all to it.

[Huang Chung]

BRR interview with MD Mike Joyce.

http://www.giralia.com.au/reportDocument/22%20Sept%2009%20-%20GIR%20Audio%20Broadcast.pdf

Talk about jam packed....Mike must have been under the impression BRR charge by the second :).

[shasta]

BRR interview with MD Mike Joyce.

http://www.giralia.com.au/reportDocument/22%20Sept%2009%20-%20GIR%20Audio%20Broadcast.pdf

Talk about jam packed....Mike must have been under the impression BRR charge by the second :).

Thanks for posting that BBR audio.

You're right MJ must be a busy man, time is money. :eek:

[shasta]

Thanks for posting that BBR audio.

You're right MJ must be a busy man, time is money. :eek:

GIR - New Hematite Zones Defined at Daltons JV :)

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=461332

GIR has 75% of this permit

[Huang Chung]

Highly encouraging, Shasta :).

[shasta]

Highly encouraging, Shasta :).

GIR - New Hematite Discovery at McPhee Creek

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=461860

Only 12 holes into a 47 hole drill campaign, but promising ;)

[Huang Chung]

Hi Shasta

Only 5 of the 12 holes we have assays for returned better than 4m at 55%, but I guess you can't expect every post to be a winner on a first pass drilling program. I presume the next round of drilling will target the more promising areas identified from these 47 holes.

This is another project that's potentially within trucking distance of Port Headland (220km). A bit further away than Mt Webber, but still potentially workable.

Isn't it nice to for GIR to have so much cash that they can throw into their projects. Now that they have clearances to drill, its one project drilled after another. The rig that drilled these 47 holes is now off to Earaheedy (AKA Big Moma :)).

[shasta]

Hi Shasta

Only 5 of the 12 holes we have assays for returned better than 4m at 55%, but I guess you can't expect every post to be a winner on a first pass drilling program. I presume the next round of drilling will target the more promising areas identified from these 47 holes.

This is another project that's potentially within trucking distance of Port Headland (220km). A bit further away than Mt Webber, but still potentially workable.

Isn't it nice to for GIR to have so much cash that they can throw into their projects. Now that they have clearances to drill, its one project drilled after another. The rig that drilled these 47 holes is now off to Earaheedy (AKA Big Moma :)).

Did i see permited for 127 drill holes?

You're right, with a drill & plenty of cash, they are in business

[Huang Chung]

139 holes fully permitted at McPhee Creek Shas.

Seems wise to do a wide spaced (up to 600m apart) preliminary campaign, to get a feel for what you've got, then go away and assess the results before coming back for another go.

[Huang Chung]

September 30, 2009

Giralia Runs Scoping Studies On Two Iron Ore Projects With A View To Fast Tracking Production.

Charles Wyatt / www.minesite.com

ASX listed Giralia Resources has that indefinable air about it of an efficient, well managed and intelligent operation. The fact that its share price is back where it was a year ago tells you that Mike Joyce and his co-directors did not cower away during the bad times, like some, but kept the profile and the level of activity up and running Admittedly they always had money in the bank as exemplified by the fact that at the beginning of this July there was A$67 million in the kitty. The interesting thing, however, is that brokers have failed to keep up with progress at the company despite a background of deals and good news in the iron ore industry. When Bell Potter wrote about the company in May of this year the share price was A57 cents and analyst Stephen Thomas put up a target price of A67 cents which was a reduction from the previous A$1.02/share.

His caution was based on the fact that no scoping or feasibility studies had been carried out on any of Giralia’s projects and they therefore remained high risk. Fair enough, but when cash accounts for around 34 per cent of current market capitalisation, and when the sale of any one of Giralia’s haematite projects could bring in all that cash, and more, at any time, it looks like Mr Thomas must have still been feeling a little bruised at the time. The point is that Giralia manages its money well, always seeking new sources of revenue; it also chooses its projects with care; and it knows a lot about exploration. In fact its getting close to being the full monty as its chosen product is haematite which is the higher grade form of iron ore. With bulk mineral such as iron ore there are two crucial judgements to be made. First, is the ore of such a consistently high grade that it can be direct shipped to customers, or does it need to be concentrated? Second, as transport is so vital to the profitability of bulk minerals, is it near road or rail?

Let’s start with the finance. Mike Joyce, the chief executive, explains that there was A$67 million in the kitty at the beginning of July, plus the value of the investments where Giralia has significant holdings as a result of spin-offs, and the average burn rate is only around A$1 million per quarter. It has a 10.4 per cent holding in PacMag Metals, a copper company, a 12 per cent stke in Zinc Co Australia, 10.4 per cent in Carpentaria Exploration and 5 per cent in Hazlewood Resources. OK. they all added up to only A$5 million at that time, but they should be worth more now and any of them could come good at a stroke. They certainly put a little sex into Giralia, but the main excitement is clearly in the iron ore projects. Beebyn-Weld Range, for instance, adjoins and is along strike from a major portion of the 149 million tonne JORC resource at Sinosteel Midwest and Sinosteel paid A$1.36 billion for Midwest not that long ago.

Mike Joyce reckons that this works out at a price of around A$9/tonne, but points out that the deal was done when the market was at a high. Even so if we take a price of A$6/tonne for the current JORC resource of 7.2 million tonnes at 57.2% iron Beebyn alone would be worth A$43 million and Mike reckons that the resource can be jacked up to nearer 20 million tonnes. In addition to this there is the nearby Beebynganna Hill project where 7 new zones of haematite outcrop have been discovered in an 11 km strip of banded iron formation. The latest news is that some RC drilling was carried out there recently and the best intersection was 28 metres at 59.1 per cent iron, but more importantly resource extensions were confirmed on the Weld Range. Earlier this year the Western Australian government executed a State Development Agreement for the Oakajee port and rail infrastructure which should take a railway to Beebyn and Beenbynganna Hill.

The 100 per cent owned Western Creek project is another that benefits from its proximity to BHP Billiton’s near surface Silver Knight iron ore deposit which is hosted in the Marra Mamba formation. Western Creek comprises a thick zone of flat lying or shallow dipping iron ore within 50 metres of surface and it is only 15 kms from the Mount Newman mining leases in the Pilbara where there are rail facilities. The current inferred resource amounts to 52.4 million tonnes of direct shipping ore at 56.7% iron and this is another where Mike reckons a significant uplift can be achieved as he has been encouraged by the initial results from helicopter and ground supported surface mapping and rock sampling over additional targets of similar mineralisation.

Lest investors think that Giralia is simply about building a portfolio of saleable iron ore projects he points out that scoping studies are in progress with a view to production at two projects where infrastructure solutions are readily available. The first of these is the 75 per cent owned Mt Webber project which is part of the Daltons joint venture with Haoma. It is only 150 kms south of Port Hedland and around 30 kms from the BHP and Fortescue rail lines. There is plenty of activity in the area as Atlas Iron is carrying out a pre-feasibility study on its Abydos deposit only 25 kms to the north and Fortescue has announced encouraging results from its joint venture with Baosteel on the nearby Glacier Valley magnetite deposit.

Mention of magnetite brings us to the other project undergoing scoping which is the Yerecoin project which is 150 kms north of Perth and only 1 km from a rail line. No resource has been estimated as yet , but drilling earlier this year gave intersections of 72 metres at 32.4% iron and 52.4 metres at 31.6% iron. Magnetite requires concentration but this magnetite is coarse and Davis Tube Recovery work has shown that it can be upgraded to a high quality concentrate. Sure, concentration costs money but the result can be sold for a higher price than direct shipping ore where the rough sums work out as an operating margin of A$15/tonne on ore sold for A$60/tonne. Anyway Mike Joyce recons that this could be fast tracked into production so it will be worth watching.

‘Pregnant with possibilities’ is a fair summation of Giralia and it is worth noting that its portfolios not confined to iron ore. The Lake Frome joint venture in which it has a 25 per cent free carried interest is bang next door to the Beverley uranium mine and its Snake Well gold project covers 45 kms of strike on the Archaean Tallering greenstone belt in the Western Murchison. Giralia has a 100 per cent right to the gold and Zinc Co Australia is earning a 75 per cent interest in other commodities. Then there come other projects in gold, copper, nickel and zinc, any of which could come good. Small wonder the share chart looks healthy as more investors climb on board.

[shasta]

September 30, 2009

Giralia Runs Scoping Studies On Two Iron Ore Projects With A View To Fast Tracking Production.

Charles Wyatt / www.minesite.com (http://www.minesite.com)

ASX listed Giralia Resources has that indefinable air about it of an efficient, well managed and intelligent operation. The fact that its share price is back where it was a year ago tells you that Mike Joyce and his co-directors did not cower away during the bad times, like some, but kept the profile and the level of activity up and running Admittedly they always had money in the bank as exemplified by the fact that at the beginning of this July there was A$67 million in the kitty. The interesting thing, however, is that brokers have failed to keep up with progress at the company despite a background of deals and good news in the iron ore industry. When Bell Potter wrote about the company in May of this year the share price was A57 cents and analyst Stephen Thomas put up a target price of A67 cents which was a reduction from the previous A$1.02/share.

His caution was based on the fact that no scoping or feasibility studies had been carried out on any of Giralia’s projects and they therefore remained high risk. Fair enough, but when cash accounts for around 34 per cent of current market capitalisation, and when the sale of any one of Giralia’s haematite projects could bring in all that cash, and more, at any time, it looks like Mr Thomas must have still been feeling a little bruised at the time. The point is that Giralia manages its money well, always seeking new sources of revenue; it also chooses its projects with care; and it knows a lot about exploration. In fact its getting close to being the full monty as its chosen product is haematite which is the higher grade form of iron ore. With bulk mineral such as iron ore there are two crucial judgements to be made. First, is the ore of such a consistently high grade that it can be direct shipped to customers, or does it need to be concentrated? Second, as transport is so vital to the profitability of bulk minerals, is it near road or rail?

Let’s start with the finance. Mike Joyce, the chief executive, explains that there was A$67 million in the kitty at the beginning of July, plus the value of the investments where Giralia has significant holdings as a result of spin-offs, and the average burn rate is only around A$1 million per quarter. It has a 10.4 per cent holding in PacMag Metals, a copper company, a 12 per cent stke in Zinc Co Australia, 10.4 per cent in Carpentaria Exploration and 5 per cent in Hazlewood Resources. OK. they all added up to only A$5 million at that time, but they should be worth more now and any of them could come good at a stroke. They certainly put a little sex into Giralia, but the main excitement is clearly in the iron ore projects. Beebyn-Weld Range, for instance, adjoins and is along strike from a major portion of the 149 million tonne JORC resource at Sinosteel Midwest and Sinosteel paid A$1.36 billion for Midwest not that long ago.

Mike Joyce reckons that this works out at a price of around A$9/tonne, but points out that the deal was done when the market was at a high. Even so if we take a price of A$6/tonne for the current JORC resource of 7.2 million tonnes at 57.2% iron Beebyn alone would be worth A$43 million and Mike reckons that the resource can be jacked up to nearer 20 million tonnes. In addition to this there is the nearby Beebynganna Hill project where 7 new zones of haematite outcrop have been discovered in an 11 km strip of banded iron formation. The latest news is that some RC drilling was carried out there recently and the best intersection was 28 metres at 59.1 per cent iron, but more importantly resource extensions were confirmed on the Weld Range. Earlier this year the Western Australian government executed a State Development Agreement for the Oakajee port and rail infrastructure which should take a railway to Beebyn and Beenbynganna Hill.

The 100 per cent owned Western Creek project is another that benefits from its proximity to BHP Billiton’s near surface Silver Knight iron ore deposit which is hosted in the Marra Mamba formation. Western Creek comprises a thick zone of flat lying or shallow dipping iron ore within 50 metres of surface and it is only 15 kms from the Mount Newman mining leases in the Pilbara where there are rail facilities. The current inferred resource amounts to 52.4 million tonnes of direct shipping ore at 56.7% iron and this is another where Mike reckons a significant uplift can be achieved as he has been encouraged by the initial results from helicopter and ground supported surface mapping and rock sampling over additional targets of similar mineralisation.

Lest investors think that Giralia is simply about building a portfolio of saleable iron ore projects he points out that scoping studies are in progress with a view to production at two projects where infrastructure solutions are readily available. The first of these is the 75 per cent owned Mt Webber project which is part of the Daltons joint venture with Haoma. It is only 150 kms south of Port Hedland and around 30 kms from the BHP and Fortescue rail lines. There is plenty of activity in the area as Atlas Iron is carrying out a pre-feasibility study on its Abydos deposit only 25 kms to the north and Fortescue has announced encouraging results from its joint venture with Baosteel on the nearby Glacier Valley magnetite deposit.

Mention of magnetite brings us to the other project undergoing scoping which is the Yerecoin project which is 150 kms north of Perth and only 1 km from a rail line. No resource has been estimated as yet , but drilling earlier this year gave intersections of 72 metres at 32.4% iron and 52.4 metres at 31.6% iron. Magnetite requires concentration but this magnetite is coarse and Davis Tube Recovery work has shown that it can be upgraded to a high quality concentrate. Sure, concentration costs money but the result can be sold for a higher price than direct shipping ore where the rough sums work out as an operating margin of A$15/tonne on ore sold for A$60/tonne. Anyway Mike Joyce recons that this could be fast tracked into production so it will be worth watching.

‘Pregnant with possibilities’ is a fair summation of Giralia and it is worth noting that its portfolios not confined to iron ore. The Lake Frome joint venture in which it has a 25 per cent free carried interest is bang next door to the Beverley uranium mine and its Snake Well gold project covers 45 kms of strike on the Archaean Tallering greenstone belt in the Western Murchison. Giralia has a 100 per cent right to the gold and Zinc Co Australia is earning a 75 per cent interest in other commodities. Then there come other projects in gold, copper, nickel and zinc, any of which could come good. Small wonder the share chart looks healthy as more investors climb on board.

Cheers for posting that HC

A good read :cool:

[Huang Chung]

As logic would dictate, Haddington have exercised their rights to claw back 30% of Atlas Iron's Mt. Webber iron ore project. Now all they have to do is fund the claw-back.

http://www.stocknessmonster.com/news-item?S=HDN&E=ASX&N=463474

This leaves Giralia with the largest interest at Mt Webber, through a 75% interest in their seperate JV with Haoma...40mt so far, with further hematite zones identified.

(The Giralia JV is right next door to the Haddington/Atlas ground).

[Huang Chung]

Only a day after Haddington claws back 30% of the Mt Webber iron ore project from Atlas Iron, Atlas announces a 34% increase in their Mt Webber resource to 43mt.

More upside for Giralia/Haoma to come, from the new zones of hematite they recently discovered on their Mt Webber tenements.

[shasta]

Only a day after Haddington claws back 30% of the Mt Webber iron ore project from Atlas Iron, Atlas announces a 34% increase in their Mt Webber resource to 43mt.

More upside for Giralia/Haoma to come, from the new zones of hematite they recently discovered on their Mt Webber tenements.

The GIR story just keeps getting better...;)

Unusual setup for the Haddington clawback though.

4 times the expenditure incurred by Atlas = approx $8.8m

Haddington seems to have got themselves a bargin

[Huang Chung]

The GIR story just keeps getting better...;)

Unusual setup for the Haddington clawback though.

4 times the expenditure incurred by Atlas = approx $8.8m

Haddington seems to have got themselves a bargin

But wait, there's more!

Second batch of drill results released for McPhee Creek. They look pretty darn good to me :).

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00997734

I luv this company...multiple projects firing and heaps of cash to keep things moving.

[shasta]

But wait, there's more!

Second batch of drill results released for McPhee Creek. They look pretty darn good to me :).

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00997734

I luv this company...multiple projects firing and heaps of cash to keep things moving.

Still all go on the GIR front...

http://www.stocknessmonster.com/news-item?S=PMH&E=ASX&N=463781

Didn't think Magnetite was GIR's target for Iron Ore?

[Huang Chung]

Still all go on the GIR front...

http://www.stocknessmonster.com/news-item?S=PMH&E=ASX&N=463781

Didn't think Magnetite was GIR's target for Iron Ore?

Hi Shasta

This PMH announcement came out of left field. GIR and PMH have Blue Rose down as a copper/gold/molly prospect. PMH is the operator. Seems that the work done by Royal Resources next door got PMH to check out the magnetite potential, with apparent positive results. GIR own 10.4% of PMH, in addition to their direct 49% interest in Blue Rose.

GIR is primarily Hematite, other than Yerecoin, but they would still have some magnetite ore across most of their tenements, especially Beebyn.


Giralia's little brothers have been busy of late......

As well as the news about Blue Rose mentioned above, PMH this week also announced a new gold project in Nevada, only 40km from the world famous Comstock mine (8.4 mil oz gold and 192 mil oz silver).

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00997323


And Carpenteria Exploration (Giralia's interest - 10.4%) today announced a 2.5-4.5 billion magnetite target, just along from Blue Rose. All very conceptual, and low grade, so I'm happy for this project to sit on CAP's books rather than Giralia's.

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00998154

And, last but not least, Zinc Company of Australia (Giralia - 12%) today acquired the Mt Alexander tenement from Vital Metals for a song. With Mike Joyce being a director of Zinc Co, it isn't surprising they picked up the tenement for its iron ore potential.

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=00998464

[Huang Chung]

No wonder my broker refers to Giralia as the Magic Pudding :rolleyes:.....

http://www.stocknessmonster.com/news-item?S=HLX&E=ASX&N=464076

[shasta]

No wonder my broker refers to Giralia as the Magic Pudding :rolleyes:.....

http://www.stocknessmonster.com/news-item?S=HLX&E=ASX&N=464076

GIR - Significant Hematite Discovery at McPhee Creek

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=464200

Results include 42m @ 60.1% FE :)

Resource definition drill-out is planned to commence in November. ;)

The good news just keeps on coming...

[Huang Chung]

Shasta, I noticed you have GIR on your watchlist...I hope you managed to pick up a few over the past couple of months ;).

What a great company :rolleyes:.

[corporateraider]

Haung Chung
Thanks for reinvigorating my interest in this one. Only bought a small parcel but have gained significantly already.
I am suprised how little interest there is in this one. I describe it as "CFE with wings". I am just sorry that I didn't invest as much in GIR as I did in CFE.
Amd the drill results suggest that there is much more to come!

[shasta]

Haung Chung
Thanks for reinvigorating my interest in this one. Only bought a small parcel but have gained significantly already.
I am suprised how little interest there is in this one. I describe it as "CFE with wings". I am just sorry that I didn't invest as much in GIR as I did in CFE.
Amd the drill results suggest that there is much more to come!

GIR - Quarterly Report Sept 2009

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=466255

Cash on Hand ~$67m + Listed Investments ~$8m

+ Gold company spin off shares ;)

A good read for a busy company with a big drilling program

[corporateraider]

Thanks for that Shasta
The cash on hand is comforting, as are their plans. They will bring the DSO to market and then have cash to further explore the company makers. With the continued drilling to prove up more resources there appears limited donside risk with this one.

[Huang Chung]

With the recent share price fall, the EV is back around 75c per JORC tonne.

[Huang Chung]

HC

I spotted this article whilst browsing the business news...

DJ Aditya Birla Loses Copper Tenements, Juniors Jockey For Ground

SYDNEY, Sep 16, 2009 (Dow Jones Commodities News via Comtex) --


Copper miner Aditya Birla Minerals Ltd. (ABY.AU) said Wednesday it has lost the right to eight exploration tenements in Western Australia state close to its Nifty copper mine, with three Australian junior explorers submitting applications.

Midas Resources Ltd. (MDS.AU), Giralia Resources NL (GIR.AU) and one privately held company have applied for at least five of the tenements.

Well, it's looking good for Giralia to benefit from Aditya Birla's slopiness :).

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=469238

[steve fleming]

Hi HC

are you taking up any of the GCY IPO?

Tim Treadgold in the Eureka Report likes:

Gascoyne Resources (GCY). Seeking $6 million and with a December 11 listing date, Gascoyne is a pure gold play, which is just what the market wants at a time of record gold prices. The other appeal of Gascoyne is its “provenance”. Most of its assets have germinated inside the technically smart Giralia Resources (GIR), a company that has made money for its shareholders by assembling and floating (or selling) exploration assets rather than taking the more risky step of actually mining anything. Gascoyne starts life with 203,000 ounces of gold in the resource category and with four priority targets, all in Western Australia.

[Huang Chung]

Hi Steve

No, I didn't put in for the priority allocation. I will be receiving shares through the in-specie distribution in any case, and that will probably do me.

I'm expecting more in-spicie distributions (and presumably priority offers as well) from Giralia as time goes on. Lake Frome uranium JV (AGS Mk2?) looks to be a potential candidate for seperation, as is the Snake Well gold project. I wouldn't be surprised to see Yerecoin magnetite packaged up at some stage as well.

And now that Giralia look like gaining an interest in the copper prospective tenements around the Nifty mine, you may need to eventually add that to the list of potential spin-offs. As I've said before, my broker calls Giralia the Magic Pudding for good reason :).

My guess is that Eraheedy and Western Creek could go by way of a trade sale, as they both require rail access. Eraheedy could be big enough to attract the majors, if the drilling goes well.

I reckon Giralia will focus on developing Mt. Webber, McPhee Creek and possibly Beebyn, where the projects are the right size for them to handle, and they aren't beholden to BHP, Rio or FMG for rail access.

[soulman]

GIR done my day again, selling it on open. The GCY IPO closed today from memory and the in-specie distribution will be done within 2 months after GCY list.

GIR looks to break every now and then and I reckon it will be in the trading range of $1 to $1.30 in the next few months. A successful listing of GCY in DEC might see it in the high range. Well done HC.

[Huang Chung]

Sounds like you made a few bob Soulman :).

I'm holding tight to the majority of my stock, but will occasionally trade 10-20 percent as the market ebbs and flows.

Always worth keeping a few (or a lot :rolleyes:) in the bottom draw, me thinks.....

[shasta]

Sounds like you made a few bob Soulman :).

I'm holding tight to the majority of my stock, but will occasionally trade 10-20 percent as the market ebbs and flows.

Always worth keeping a few (or a lot :rolleyes:) in the bottom draw, me thinks.....

GIR growing legs & learning to run :rolleyes:

Presentation for the AGM

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=471252

http://hfgapps.hubb.com/asxtools/imageChart.axd?BI=2&COMT=index&OVS=XJO&TF=D6&TIMA1=20&TIMA2=20&s=GIR

[corporateraider]

Shasta,
As you probably saw from the report there is so much happening with this company at the moment and each increase to the JORC resource should give the share price fresh impetus.

Well done HC in calling such a spectacular rise in the share price pending the AGM

Disc: Hold a few

[Huang Chung]

Guys

I'm over the moon right now...good things heading our way, me thinks :rolleyes:.

Did you check out McPhee Creek?


'Initial Expoloration target 100-140 Mt @ 57-60% Fe.' :eek:
'Potential for larger tonnages if interpreted shallow folding is verified by drilling.' :eek:
How many junior IO players can through up a resource like this so close to port? And there's Mt Webber that's good for another net 30 Mt of high quality ore as well.

And, despite a very nice rise in the share price, the stock is still has an EV of just over $1 per JORC resource tonne. If the current share price is maintained, that EV should slip to UNDER $1 per JORC resource tonne when the initial JORC resource for McPhee Creek is added to the 132 Mt of current JORC resource before year's end.

Great management,
Great stock to be holding :).

[dragonz]

Guys

I'm over the moon right now...good things heading our way, me thinks :rolleyes:.

Did you check out McPhee Creek?


'Initial Expoloration target 100-140 Mt @ 57-60% Fe.' :eek:
'Potential for larger tonnages if interpreted shallow folding is verified by drilling.' :eek:
How many junior IO players can through up a resource like this so close to port? And there's Mt Webber that's good for another net 30 Mt of high quality ore as well.

And, despite a very nice rise in the share price, the stock is still has an EV of just over $1 per JORC resource tonne. If the current share price is maintained, that EV should slip to UNDER $1 per JORC resource tonne when the initial JORC resource for McPhee Creek is added to the 132 Mt of current JORC resource before year's end.

Great management,
Great stock to be holding :).

Well done HC. Wouldnt be the first time youve made these calls. I will have a closer look this weekend.

[Huang Chung]

The next big challenge will be organising port access. If they can get an allocation for a couple of million tonnes, we should see the stock re-rated considerably I would think.

Always the possibility of selling the ore to other producers for blending, as well.

[dragonz]

The next big challenge will be organising port access. If they can get an allocation for a couple of million tonnes, we should see the stock re-rated considerably I would think.

Always the possibility of selling the ore to other producers for blending, as well.

there is some nice silver plays at the moment ,. im not sure if the market has caught up with the fact that we will probaly never see under $10 ever again.

[COLIN]

there is some nice silver plays at the moment ,. im not sure if the market has caught up with the fact that we will probaly never see under $10 ever again.

CXC, for instance? I hold a few of those.

[dragonz]

CXC, for instance? I hold a few of those.

Is this top 100ASX colin? Seems to be doing well the last few days?

[COLIN]

Is this top 100ASX colin? Seems to be doing well the last few days?

Dragon: Sorry, I have just noticed your question. CXC (ASX) relates to Depositary Interests (1:1) in the securities of Coeur d'Alene Mines Corporation which are listed on the American market. Truth be told, I have been a little disappointed in their performance and would have expected much better of late, given the increasing world interest in gold and silver following doubts about the future of the US dollar. However, I will be continuing to hold for the foreseeable future.

There is also an individual thread for CXC, although nothing posted of late.

However, back to GIR: And I am feeling quite encouraged by my decision yesterday to sell my IRN and invest in GIR at 132.

[Huang Chung]

McPhee Creek drilling update released today.


Most importantly there is good evidence from surface mapping that mineralisation extends further east than the area currently drilled, with outcropping very shallow dipping hematite located several hundred metres further east. As the eastern most hole on most sections drilled is mineralised, this suggests that relatively flat lying mineralisation could extend considerably further than currently modelled in the Company’s conservative initial Exploration Target of 100 to 140 million tonnes of hematite iron ore (57-60%Fe) for the main range deposit.


A maiden JORC resource estimate incorporating all drilling to date is anticipated by mid December.


http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01020473


This prospect just keeps growing, and now looks like it could be much bigger than anyone had previously thought.


Exciting times. :)

[corporateraider]

I am so glad that I sold out of CFE to get into this. I think that you are right HC, the story is just going to get better. And not just McPhee!

[COLIN]

McPhee Creek drilling update released today.


Most importantly there is good evidence from surface mapping that mineralisation extends further east than the area currently drilled, with outcropping very shallow dipping hematite located several hundred metres further east. As the eastern most hole on most sections drilled is mineralised, this suggests that relatively flat lying mineralisation could extend considerably further than currently modelled in the Company’s conservative initial Exploration Target of 100 to 140 million tonnes of hematite iron ore (57-60%Fe) for the main range deposit.


A maiden JORC resource estimate incorporating all drilling to date is anticipated by mid December.


http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01020473


This prospect just keeps growing, and now looks like it could be much bigger than anyone had previously thought.


Exciting times. :)


Quite encouraging, I must agree.

[Huang Chung]

Maiden Iron Ore resource for the main range at McPhee Creek released today.

52.1 Mt at 56% Fe with a 50% Fe cut-off, or 33.8 Mt at 57.3% Fe with a 55% cut-off. Not a bad effort considering they only commenced drilling in September.

'Conservative exploration targets established of 100 to 140 Mt @ 57% to 60% Fe for the western side of the range only.'

Worth having a close look at Fig 2, which highlights the area that was included in the resource, the area that could comprise the 100 to 140 Mt target, and the area of 'further potential'.

Who knows, we might be looking at several hundred million tonnes of hematite ore from McPhee Creek, and this is just one of seven iron ore projects Giralia are progressing.

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01022599

[Huang Chung]

Courtesy wipper over on HC....

Promising first resource at McPhee
Tuesday, 15 December 2009

GIRALIA Resources has unveiled a maiden resource for the Main Range deposit at its McPhee Creek iron ore project in the Pilbara, just three months after its discovery.

The Main Range deposit has an inferred resource of 52.1 million tonnes grading 56% iron or 61.7% calcined iron, 0.08% phosphorous, 6.7% silica, 3.2% alumina and 9.2% loss on ignition, using a cut-off grade of 50% iron.

The estimate is based on data from 71 reverse circulation drillholes completed since September.

The deposit is around 8 kilometres long and up to 1km wide with haematite mineralisation up to 90m thick and starting from the surface in many holes.

The company previously set an exploration target for the western end of Main Range of 100-140Mt and the deposit remains open in most directions.

Giralia is planning a major resource drilling campaign for early 2010 with the aim of growing the resource.

The company will also investigate development options at McPhee Creek, focused on road haulage to Port Hedland which is 220km northwest of the project.

In 2008, the company delineated a resource of 5.17Mt at 53.6% iron for the Crescent Moon channel iron deposit at McPhee Creek.

Shares in Giralia gained A2c in morning trade to $1.345.

[Huang Chung]

And, despite a very nice rise in the share price, the stock is still has an EV of just over $1 per JORC resource tonne. If the current share price is maintained, that EV should slip to UNDER $1 per JORC resource tonne when the initial JORC resource for McPhee Creek is added to the 132 Mt of current JORC resource before year's end.



At the current shareprice of $1.36.5, the addition of 52 Mt at McPhee Creek has put GIR EV back under $1 a resource tonne (although, McPhee Creek maiden resource estimate would, unsurprisingly, appear not to be of JORC standard).

But more importantly, we know that the resource tonnage is going to keep growing at McPhee Creek, and we haven't even factored in anything for Yerecoin or Earaheedy yet.

[Huang Chung]

Positive results from Mt Webber scoping study.

NPV for this project around $150m. Total EV for Giralia around $170m. Mt Webber is probably their sweetest project, but is just one of seven iron ore projects the company is developing.

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01023426

[Huang Chung]

A positive research report from Carmichaels. Note that the maiden resource at McPhee Creek came in at 52Mt, 2Mt better than the broker's conservative estimate.

http://www.giralia.com.au/reportDocument/Carmichaels_Dec%20'09_GIR.pdf

[COLIN]

A positive research report from Carmichaels. Note that the maiden resource at McPhee Creek came in at 52Mt, 2Mt better than the broker's conservative estimate.

http://www.giralia.com.au/reportDocument/Carmichaels_Dec%20'09_GIR.pdf

HC: I'm not terribly happy with the way the price has been trending over the past couple of weeks. What are they hiding from us?

[Huang Chung]

I would suspect nothing at all Colin.

Probably a measure of 'buy on the rumour, sell on the news' me thinks.....GIR ran up from the mid 90's on little news, but has not bolted with the release of the recent (quite positive) news.

Also maybe a sense that that's all the news we'll probably recieve for a while....so no need to hold. Always a risky proposition from my perspective, as there are potentially many news fronts with this company.

Last but not least, some minds are now undoubtedly turning to the issue of developing these projects and shipping the ore....will a capital raising be required?, will they be be able to add value by negotiating rail access?, can they get space at Port Hedland?

Anyhow, that's my take on things. I'm quetly confident 2010 will be a year where many of these issues get sorted, but, hey, there are no guarantees.

[dragonz]

HC: I'm not terribly happy with the way the price has been trending over the past couple of weeks. What are they hiding from us?

Hey colin. This hit my watchlist @ 125 but I couldnt remember why. Still seems in an uptread. I think it was because I was looking at the 1st pullback. Do you see further downtread from here?:D. Seems like a normal correction. My balls seem to be getting a bit smaller these days. Probaly because I had a good year this year and am reluntant to give over any profits made. When I see both you and HC on a forum then I'm thinking I might have a punt on this one.:D

[COLIN]

HC & Dragon: Yes, it looks like just a bit of time out, for a breather and a cup of tea. Today's action looks a bit more promising.

Dragon: Thanks for the compliment, but it scares me a little! It was actually Good King Wenceslas who knew where to tread, and I am not he!!

[Huang Chung]

Dragon....you better have a look and see how my share tipping pick in the ASX comp is going :(.

Back to Giralia, volumes are very low right now, and there seems to be some huge gaps at times between buyers and sellers.

Short term, who really knows where it will go.

Long term, if you're prepared to wear the risks around rail and port access, this stock looks to be complete no brainer.

[Huang Chung]

I'm not heavily into TA, but that looks a pretty nice chart to me. Would be very please to get a more decisive TA viewpoint from anyone with the tools/knowledge.

http://hfgapps.hubb.com/asxtools/imageChart.axd?s=GIR&pi=Stock&ct=3&tf=D6&ovs=&si=Code not supplied&tima1=20&tima2=20&bi=9&bima=0&comt=index&ds=GIR&dovs=0&val=1&stmp=20100106184325873

[shasta]

I'm not heavily into TA, but that looks a pretty nice chart to me. Would be very please to get a more decisive TA viewpoint from anyone with the tools/knowledge.

http://hfgapps.hubb.com/asxtools/imageChart.axd?s=GIR&pi=Stock&ct=3&tf=D6&ovs=&si=Code not supplied&tima1=20&tima2=20&bi=9&bima=0&comt=index&ds=GIR&dovs=0&val=1&stmp=20100106184325873

HC

Here's the 12 month chart showing the RSI at ~75

https://www.directbroking.co.nz/cgi-bin/sparkle.dll/superchart?template=dblsuperchart&session=0&instrument=GIR&exchange=ASX&period=1Y&adj=yes&vs=LINE&ct=CANDLE&compi=&ma1=90&ma2=180&bb=&ind=RSI&ra=2

and the 2 year chart, showing the share price is back to where it was roughly Aug 08

https://www.directbroking.co.nz/cgi-bin/sparkle.dll/superchart?template=dblsuperchart&session=0&instrument=GIR&exchange=ASX&period=2Y&adj=yes&vs=LINE&ct=CANDLE&compi=&ma1=90&ma2=180&bb=&ind=RSI&ra=2

[Huang Chung]

Cheers AA

It's been a while....thought you'd fallen down a hole or something. Anyway, Happy New Year.

I was wondering about a double top at around $1.46 the other day, but it just seems to have powered through it. Volumes better now also.

HC.

[Huang Chung]

...and thank-you Shas. Didn't know you were into the charts. Still, another weapon in your armoury can't hurt.

What a slipery dip...reminds me of a water slide I went on at Wet N' Wild the other week :eek:.

Quite happy that the run up this time is slow and steady...and there is just so much more to this company now than when it was at its previous peak :).

[shasta]

...and thank-you Shas. Didn't know you were into the charts. Still, another weapon in your armoury can't hurt.

What a slipery dip...reminds me of a water slide I went on at Wet N' Wild the other week :eek:.

Quite happy that the run up this time is slow and steady...and there is just so much more to this company now than when it was at its previous peak :).

Don't fret i haven't hit my head or anything, was just interested to see myself.

The short term uptrend is very tasty, mid term (6 months) as per your chart looks good, as does the 12 month chart.

But to think it's taken from Aug 08 til Jan 10 to get back to $1.50, shows a different story on a longer term, 2 year chart.

Check out that original spike, $1.20 - $2.80 & very steep RSI near to 100!

[Huang Chung]

AA, tomorrow's Saturday :p....

[shasta]

My feeling if I personally held GIR would be to sell on open tomorrow, well within the first 20 minutes, I feel this shorter term cycle is now complete.

10 solid green days in a row is a exceptional occurrence and rather rare.... so well done holders!

Buying again on the pullback is a option for those who want to hold the company in there portfolio, volume accumulation is still indicative of longer term trend continuation, however I do note in my mind that the may 08 Action / Re-action cycle doesn't have a lot of upside left in it for longer term holders and the movements between $2-3 may present either unsustainable price expansion leading to collapse or loss of momentum usually appearing as shorter and shorter periods of trending between re-actions.

Once a longer term action/re-action cycle nears completion, trend predictability becomes less certain, company progress and positive news flow becomes more part and parcel in developing the new action which determines the characteristics of the companies supply and demand dynamics of the register going forward.


AA

There won't be any action tomorrow AA, being Saturday & all...:rolleyes:

Today's volume is a big drop off from yesterday's but still well above the average volume for the week.

It does seem like this SP run is running out of steam, with the RSI approaching 85, as it has been quite steep.

[Huang Chung]

I'd be quite happy for the share price to take a pause right now (or even a few days ago for that matter), and wait for the expected news flow to provide that solid base to drive the share price higher.

If it settles above $1.50 for a while, I'll be more than pleased.

[shasta]

lol so it is...

The days are just a blur as I work 7 days

AA

That's a bit rough isn't it, all work & no play makes AA a dull boy :D

[Huang Chung]

Well AA, the fundamentals are very positive, so I'm not surprised by your longer term positive view.

[pago]

Well AA, the fundamentals are very positive, so I'm not surprised by your longer term positive view.

hi hg,i will wait for the $2 plus,sure it will come if the iron ore price holds,no doubt gir will prove up the resource,cheers pago

[shasta]

I find it very hard to know the probabilities of larger time frames, you may predict much better than myself what may happen in the medium term/ longer term via your fundamental analysis .

Short Term probabilities are my area so I should have really kept quiet about the longer term outcomes, but sometimes its nice to throw ideas and thoughts around as this is a chart site and not my business.

Look at 100 charts or more, once you get above 9 green days in a row how many chart keep on going without a pull back?

That is exactly the edge traders seek, a system with a probable outcome greater than 50%.

Every trading system should be built from a edge of probability.

AA

A quick look shows the RSI at ~85, so it's getting pretty hot on this run

[Huang Chung]

Stopped going up, but not going down much either, especially after some ho hum drilling results at Earaheedy.

As far as I'm concerned, the current main drivers for this stock are McPhee Creek, and, to a lesser extent, Mt Webber.

[Huang Chung]

If a deal can be done, this would work wonders for Mt Webber's NPV, and maybe McPhee Creek's as well.

http://news.smh.com.au/breaking-news-business/fortescue-to-share-pilbara-rail-line-20100114-m9sb.html

[shasta]

If a deal can be done, this would work wonders for Mt Webber's NPV, and maybe McPhee Creek's as well.

http://news.smh.com.au/breaking-news-business/fortescue-to-share-pilbara-rail-line-20100114-m9sb.html

Meanwhile GIR started the 2010 comp @ $1.46, & now travelling nicely at $1.79 ;)

You're onto a winner here HC

[Huang Chung]

http://www.giralia.com.au/reportDocument/Carmichaels_8Jan10.pdf

To my way of thinking, Carmichael's seem to be VERY conservative with their estimation for McPhee Creek....

[Huang Chung]

Shasta, AA...

Any chance of posting a 6 month chart showing the RSI, and a bit of an interpretation?

Thinking about a top up, but wondering what my chances are of getting stock a bit cheaper.

[shasta]

Shasta, AA...

Any chance of posting a 6 month chart showing the RSI, and a bit of an interpretation?

Thinking about a top up, but wondering what my chances are of getting stock a bit cheaper.

6 month chart, showing RSI now around ~50, volume was increasing, but has dropped off, looks to me like a normal retrace.

https://www.directbroking.co.nz/cgi-bin/sparkle.dll/superchart?template=dblsuperchart&session=0&instrument=GIR&exchange=ASX&period=6M&adj=yes&vs=LINE&ct=CANDLE&compi=&ma1=90&ma2=180&bb=&ind=RSI&ra=2

But the 12 month chart below shows previous resistance around $1.50 (which is normal for support to be a round number), resistance when broken usually becomes support, so the $1.50 is crucial. A breach of this level & a close under $1.50, could mean the end of this short term uptrend?

https://www.directbroking.co.nz/cgi-bin/sparkle.dll/superchart?template=dblsuperchart&session=0&instrument=GIR&exchange=ASX&period=1Y&adj=yes&vs=LINE&ct=CANDLE&compi=&ma1=90&ma2=180&bb=&ind=RSI&ra=2

That's my un TA eye & opinion HC, the mid & long term uptrends are still intact.

Unless you are trading GIR short term, not too much to worry about just yet.

[Phaedrus]

Any chance of posting a 6 month chart showing the RSI, and a bit of an interpretation?Here are a few indicators you might find useful, HC. While the Sto and W%R have very similar formulae, they do give different signals as you can see here. I have used the default values for all indicators except the RSI, where the default of 14 is too slow for your purposes. Buy signals are marked with green arrows and all have flagged good "top-up" points in the past. Currently, all are very close to triggering buy signals again. The RSI is a very useful oscillator, but I believe you should supplement it with other indicators and the use of candlestick charts.


Thinking about a top up, but wondering what my chances are of getting stock a bit cheaper.In my opinion, your chances of picking up more GIR for less than $1.50 are not all that good, given the recent support at that level. You could buy now on the strength of the candlesticks, or wait for oscillator buy signals. Note how significant turning points are often marked by candles with a long lower shadow. (as circled)

http://i602.photobucket.com/albums/tt102/PhaedrusPB/GIR126.gif

[Huang Chung]

Thanks guys...I really appreciate your input. I still have lots to learn about TA I'm afraid......

[shasta]

Thanks guys...I really appreciate your input. I still have lots to learn about TA I'm afraid......

Thanks Phaedrus for posting the chart & commentary :)

I'm learning too, especially about candlesticks.

I don't have access to better charting software (if i were trading, i'd invest in decent charting software), but from the freely available ones, you can kinda get the gist of things.

When i'm back in the market, i'm going to try to combine my FA for picking certain stocks, & use TA to time my entry/exits.

But like you HC, i prefer the mid term approach, as opposed to trading.

[shasta]

Thanks Phaedrus for posting the chart & commentary :)

I'm learning too, especially about candlesticks.

I don't have access to better charting software (if i were trading, i'd invest in decent charting software), but from the freely available ones, you can kinda get the gist of things.

When i'm back in the market, i'm going to try to combine my FA for picking certain stocks, & use TA to time my entry/exits.

But like you HC, i prefer the mid term approach, as opposed to trading.

GIR - December Quarterly

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=477988

$60m cash to fund there never ending drilling campaigns!

HC - How do those grades compare?

Any comments on the target size of there projects?

[Huang Chung]

GIR - December Quarterly

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=477988

$60m cash to fund there never ending drilling campaigns!

HC - How do those grades compare?

Any comments on the target size of there projects?

From what Ive been told '57' is the magic number, as far as Fe grade is concerned (and ignoring the nasties). Giralia hasn't the best ore out there, but to my way of thinking, the focus should be on Mt Webber (good ore within trucking distance of port) and McPhee Creek (ore not quite as good), a bit further from port, but a lot of potential to grow). As far as target size is concerned, again, the focus should be on McPhee Creek.

For me, Giralia is still the best IO junior, when you do the trade off between ore grade, tonnage potential and access to port.

[shasta]

From what Ive been told '57' is the magic number, as far as Fe grade is concerned (and ignoring the nasties). Giralia hasn't the best ore out there, but to my way of thinking, the focus should be on Mt Webber (good ore within trucking distance of port) and McPhee Creek (ore not quite as good), a bit further from port, but a lot of potential to grow). As far as target size is concerned, again, the focus should be on McPhee Creek.

For me, Giralia is still the best IO junior, when you do the trade off between ore grade, tonnage potential and access to port.

Good point, no use having a billion tonnes of high grade material if you cant move it!

Infrastructure is the key, & why i still like NHC

[Huang Chung]

Was watching yesterday when GIR suddenly broke towards $1.40. Buyers quickly snapped the shares up, and it finished square for the day.

Still, with the current unfriendly market, anything's possible.

Just remember at around $1.30, GIR's EV is back to around $1 per resource tonne. I would think this would be a very good level to be accumulating, considering the resource base will keep growing (especially McPhee Creek).

[Huang Chung]

Nice bounceback to $1.69 today, up 13c on what was generally a good day.

Positive Yerecoin scoping study probably helping.

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01035977

Scenario 1 NPV is greater than the GIR market cap, and well above its EV. And this is GIR's MAGNETITE project, with the six other iron ore projects all being hematite.

[drillfix]

Nice bounceback to $1.69 today, up 13c on what was generally a good day.



Hi there Huang,

Yes mate, I nearly got in this one, but these fricking BOTs are just doing their Algorithmic dancing all over this stock.

I guess your not complaining about that, but tell ya what, you do not want these bots to turn the other way, otherwise they just F things over.

I really dig this stock and its chart, but cannot be everywhere at once.

I should have probably dumped some of my other woofers and just came straight in.

No hurry, will take a small position if it breaks past $1.80 ish.

[Huang Chung]

Hi there Huang,

Yes mate, I nearly got in this one, but these fricking BOTs are just doing their Algorithmic dancing all over this stock.

I guess your not complaining about that, but tell ya what, you do not want these bots to turn the other way, otherwise they just F things over.

I really dig this stock and its chart, but cannot be everywhere at once.

I should have probably dumped some of my other woofers and just came straight in.

No hurry, will take a small position if it breaks past $1.80 ish.

Hi Drilly

I'm not a trader of this stock (other than on the fringes of my holding), so I'm happy for the bots to do what they want.

At the end of the day, the fundamentals will dictate the price over the 1, 2 or 3 year timeframe I'm looking at.

[Huang Chung]

Hmmm, nearly 1.7m traded today, far more than usual.

Whose building a stake, I wonder?.....

[shasta]

Has the GCY in specie distribution gone ex yet?

[Huang Chung]

yeah, not that it will make you rich or anything....

[pago]

Hmmm, nearly 1.7m traded today, far more than usual.

Whose building a stake, I wonder?.....

hi hc,gir up 13c on big volume,it seems hao and gir have received an offer for mt webber j.v.cheers pago

[Huang Chung]

Interesting that GIR have remained silent on this so far.

[Huang Chung]

I'm out of GIR as of today...nearly a 4 bagger since I commenced re-establishing a position nearly 12 months ago.

I always thought GIR would get access to some of Aurox's port entitlements, as I could never see Aurox getting balla balla up and running. Aurox's merger with Atlas announced today has put paid to that.

I'm going to wait and see what they do to secure port access first and foremost, and, secondly, rail access before maybe having another go. Of course, McPhee Creek drilling might always tempt me back....

[drillfix]

I'm out of GIR as of today...nearly a 4 bagger since I commenced re-establishing a position nearly 12 months ago.


Well done HC, excellent result for you. Nothing better than taking profits after a year of holding. Or in my case even holding for a week/days...lol

You made the call quite a while back too so good on ya for sharing your thoughts to readers who either chose to act or just watch, like myself.

Again, well done.

[pago]

hi hc,gir closed at $2.10,big volume,$2 was my target so i will sell a few,i hope you keep posting on gir,your objective and realistic views on gir were good value,cheers pago

[soulman]

Well done to all holders of GIR. The way GIR has moved, holding GIR is best. Like they say, never sell winners and always hold a stock in an uptrend. A great performer and the way GIR closed at the top, tomorrow could be another positive day for GIR.

[MPC]

I sold too early. But still took a quick 20% profit so can't complain. It is looking good and I have a free $50 worth of those other shares, yaah.

Cheers,
MPC

[Huang Chung]

Cheers guys.

I'm now guessing that Giralia is being seen by the market as a possible target for Atlas, as AGO now have plenty of port capacity, but not the tonnage of easy dig and ship DSO ore to support such a capacity. Taking over Giralia could well and truely fill that void. Furthermore, AGO and GIR are neighbours at Mt Webber, so taking over Giralia would give them control on that whole area.

I always felt that Aurox would never get Balla Balla up, and GIR would stand a good chance of picking up some of their port capacity. The deal with Atlas put paid to that. Working on the bird in the hand principal, I though it was time to take my profits and move on.

Best of luck to those still holding.

[shasta]

Cheers guys.

I'm now guessing that Giralia is being seen by the market as a possible target for Atlas, as AGO now have plenty of port capacity, but not the tonnage of easy dig and ship DSO ore to support such a capacity. Taking over Giralia could well and truely fill that void. Furthermore, AGO and GIR are neighbours at Mt Webber, so taking over Giralia would give them control on that whole area.

I always felt that Aurox would never get Balla Balla up, and GIR would stand a good chance of picking up some of their port capacity. The deal with Atlas put paid to that. Working on the bird in the hand principal, I though it was time to take my profits and move on.

Best of luck to those still holding.

GIR - Presentation to Asian & US Investors

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=483694

Always good to have pro active management who promote awareness with there company!

[pago]

hi gir keeps moving up,$2.25 today,the driver is probably the t/o talk for mt webber.hao ann today,the hao/gir j/v has received a number of approaches from third parties expressing interest in purchase,co-development and or off take arrangements for mt webber.cheers pago

[Huang Chung]

Yes pago, GIR has been a wonderful performer. Left some profits on the table unfortunately.

[corporateraider]

I am surprised that comment on this has virtually ceased with HC no longer holding.

Still lots left in this one I feel. The company has resources of 180 million tonnes and the EV / tonne is still low. But here's the exciting part. The company in its presentation to US investors said they hope for at least 380 mill tonnes by the end of the year. That has to mean a significant re-rating.

The 380 mill excludes anything from Earaheedy which the company describes as the "company maker."

And there is the prospect of another re-rating when production commences and that is not to far away.

An investment of 10k won't see you a millionaire by Xmas but 500k will.

I still can't believe that a couple of years ago when I was comparing GIR and Minotaur I chose the latter.

[Huang Chung]

Hi CR

As I get posting and posting and posting, McPhee Creek is potentially a company maker for GIR. I'd still like to see some news on how they plan to export their ore....this is the one part of the equation still missing. I always figured that Aurox's Balla Balla project would fall over, and that GIR would be in a prime position to negotiate over the freed up port capacity, but Atlas Iron's merger with Aurox has put paid to that idea. So, at this stage, I have no idea how they will get their ore to market.

[corporateraider]

Gidday HC

I don't think all the pieces of the processing puzzle are yet resolved- but there is still time for that. However I believe the huge resource increase this year will drive the share price.

I guess it depends on your perspective as to what will be the company maker. I am simply repeating the ceo's words when he referred to Earaheedy.

[pago]

hi cr,i have sold a few on profit for other prospects,but i still hold near 10% of my portfolio in gir.the upside remains,gir may well not produce the iron ore,gir has a history of proving up the resource and selling for it for big gains,hc may have missed this point.gir has never been a producer,always an explorer /prove the resouce/sell at big gains,they will do this again imho.lets see who wants the gir iron ore resource at what price?i wont go into the price rises for iron ore,you know,a bubble?not yet,cheers pago

[corporateraider]

Hi Pago
I hold 18% in GIR and don't see that as over weighted.
I take your point about GIR having xold resource in the past. My pick is that they will produce in the next couple of years simply because that will produce greater value.

[Huang Chung]

Hi Pago
I hold 18% in GIR and don't see that as over weighted.


For a good while, I was 100% GIR, and I didn't see THAT as over weighted! Saved my bacon after the GFC and Oz Minerals fiasco in fact.

[steve fleming]

I see GIR is the largest shareholder/optionholder in CAP - Carpentaria Exploration Limited

CAP up 112% today
CAPO up 3,133% today!!!!!!!

[COLIN]

I see GIR is the largest shareholder/optionholder in CAP - Carpentaria Exploration Limited

CAP up 112% today
CAPO up 3,133% today!!!!!!!

Music to my ears - and also to Huang Chang's, no doubt. Thanks for pointing that out, Steve.

[shasta]

Music to my ears - and also to Huang Chang's, no doubt. Thanks for pointing that out, Steve.

GIR - Quarterly Report

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=488992

Market Cap has increased significantly of late & now at $411m

Still holding cash of $60m
Listed Investments $12m

Plenty of drilling activity to generate more positive announcements

Disc: Nil held

[shasta]

GIR up 37c (~19%) to $2.35 on ~1m volume & no anns?

Something in the wind, results due?

Volume wasnt out of the ordinary, but thats a great jump

[shasta]

GIR up 37c (~19%) to $2.35 on ~1m volume & no anns?

Something in the wind, results due?

Volume wasnt out of the ordinary, but thats a great jump

GIR seemingly on fire, up another $0.15 today to close at $2.50, again slightly above average volume & no anns!

http://hfgapps.hubb.com/asxtools/imageChart.axd?BI=2&COMT=index&OVS=XJO&TF=D6&TIMA1=20&TIMA2=20&s=GIR

[shasta]

Now i know the markets were down & metal prices in general softened, but a $0.34 drop to $2.16 (-13.6%) is a big haircut!

Seems Nickel stocks suffered more than most as well

[shasta]

Now i know the markets were down & metal prices in general softened, but a $0.34 drop to $2.16 (-13.6%) is a big haircut!

Seems Nickel stocks suffered more than most as well

GIR - Yerecoin Magnetite project drilling results

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=491504

[corporateraider]

So many good things continue to happen with this comapny.

[Huang Chung]

Re-entered GIR today with a small parcel of shares.

Ongoing McPhee Creek drilling looks encouraging:

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=491790

Still cautious about lack of visible progress on the infrastructure front.

[shasta]

Re-entered GIR today with a small parcel of shares.

Ongoing McPhee Creek drilling looks encouraging:

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=491790

Still cautious about lack of visible progress on the infrastructure front.

GIR - Presentation Out

http://www.stocknessmonster.com/news-item?S=GIR&E=ASX&N=492081

With 4 near term development projects, & with plenty of news/drilling results to keep the share price ticking over, GIR should continue on it's fantastic run.

The sheer number of projects in the pipeline reminds me of the larger Coal/Iron Ore mid cap AQA.

[corporateraider]

HC may be smiling on the rumour that GIR may be close to solving the port dilemma.

If this is true the company may well resemble AQA as Shasta suggests

Disc My largest investment

[corporateraider]

This is probably not one for the trader anymore, but it continues to look a seriously good investment. It became a 500 mill stock last week and became part of the All Australia 200 index. Maybe it was this that spurred substantial buying on Friday (above market) and the price moved to $2.80.
A solution to the infrastructure problem could see this become a 1bill company cf AGO

[Huang Chung]

This is probably not one for the trader anymore, but it continues to look a seriously good investment. It became a 500 mill stock last week and became part of the All Australia 200 index. Maybe it was this that spurred substantial buying on Friday (above market) and the price moved to $2.80.
A solution to the infrastructure problem could see this become a 1bill company cf AGO

If they keep proving up iron ore, and they don't announce an infrastructure solution, someone will surely take them out.

[DTB]

If they keep proving up iron ore, and they don't announce an infrastructure solution, someone will surely take them out.

You definitely called it Huang. An equivalent offer of $4.57 today.

Thanks for sharing your work on this one. I've had it for the past year and this is a very nice Xmas present!

[shasta]

You definitely called it Huang. An equivalent offer of $4.57 today.

Thanks for sharing your work on this one. I've had it for the past year and this is a very nice Xmas present!

GIR started the 2010 comp @ $1.46, nice gains for a mid cap, well done DTB & i bet HC wishes he kept some, but i know he did well out of GIR

[Huang Chung]

Well, it's looking like Giralia is at the end of it's wonderful journey. I was happy (and well rewarded) to accompany it for a good part of the way.

Mike Joyce and Stan MacDonald have done a fine job steering steering the ship, snapping up tenements on the cheap when every explorer was looking to become the next 'Melbourne IT'. They also turned Giralia into a Magic Pudding, but spinning out companies like Carpentaria Exploration, that are now starting to spread their own wings. And, of course, they were good at developing the prospects (principally hematite) they kept in house.

No real surprise they have been courted by Atlas, as Giralia has the ore that Atlas desires (and Atlas had the ports that Giralia needs).

To me, this really is a match made in heaven.

I bought a swag of AGO today at $2.85, as I can see nothing but good things come from this marriage.

[Huang Chung]

Re-entered GIR this morning.

Small arb opportunity here with the price of AGO being $2.98 (1.5 AGO for each GIR, or 1.33 AGO + 50c for each GIR). Deal agreed between boards.

So, it seems there is limited downside in the GIR share price, especially as AGO are holding at their pre-bid share price.

More importantly, GIR is now in play, so there is potential upside in GIR if the Chinese or Indians (or whoever) come in with a better offer for GIR.

I would have expected GIR to trade at a premium, not a discount....maybe its because many instos have shut up shop for the year, and its retail land that's driving the price action in both stocks.

[h2so4]

UBS sells down AGO and buys GIR, if GIR was selling at a premium I imagine the reverse would be happening.