mar (malichite rescources nl) silver,indium etc

[stevo1]

anyone following this minnow?($37.5mill cap).drilling over the old conrad mine.best grades drilled 5000g/t silver equivaqlent.(1715g/t, 3.9%cu, 16.1%pb, 5% zn,3.4%sn 79g/t indium) not mining yet but several other prospects gold,copper,tin,due in november to release resource estimate.

[stevo1]

No one seems interested in this stock,however they are courting Chinese interests atm
for a JV http://www.asx.com.au/asxpdf/20090824/pdf/31k82br13fpbhv.pdf

Possible sp gain for the future?

This extract from The Australian

"Among the many barely noticed announcements during the week was one from Malachite Resources (MAR). This company has spent the past few weeks promoting its Conrad silver project in northern NSW to Chinese investors. Conrad closed in 1957 due to low metal prices, with most of its silver still in the ground.

There's 9.6 million ounces of silver available, along with economic quantities of zinc, lead, tin and indium. Malachite says that it has signed a confidentiality agreement with one of China's largest state-owned mining groups, and other potential Chinese investors will be out to look at the project during September. "

Full article here


http://www.theaustralian.news.com.au/business/story/0,28124,26003210-18261,00.html

[stevo1]

Moved ahead today (light volume) to 8cps up 9.6%.Market cap $11.3 mill.

[STRAT]

Wow Stevo, did you get in before it gapped up on Monday?

[stevo1]

Wow Stevo, did you get in before it gapped up on Monday?

Hi Strat rebought in at open Monday.I think sp needs to break through the 8cps level convincingly and of course if Chinese interests come on board should do so.

I think from memory Conrad mine has silver equivalent of 19.2 mill oz.(in polymetallic silver rich mine)


So paying in the ground price of AU58 cents/ oz silver equivalent (ATM at 8cps) for Conrad mine only.

This company needs funding to mine Conrads

[STRAT]

Hi Strat rebought in at open Monday.I think sp needs to break through the 8cps level convincingly Another rise today but less than 1/4 the volume. The slow off the mark getting in?
More likely to retrace to fill the gap over the next few days would be my guess.

[stevo1]

Another rise today but less than 1/4 the volume. The slow off the mark getting in?
More likely to retrace to fill the gap over the next few days would be my guess.

You may well be right on that Strat!!!!

[stevo1]

Anyone willing to venture TA on MAR ,sp now at 9cps.Strat? AA? Phaedrus?
market cap now 12.7 mill.
Besides silver at Conrad they have other prospects in tin and gold

http://www.malachite.com.au/html/commodities.htm

[stevo1]

This is part of an article from Mineweb

"The report notes that China's Central Television, the main state-owned television company, has run a news programme letting the public know how easy it is to buy precious metals as an investment. On silver investment the announcer is quoted as saying " China has introduced its first ever investment opportunity for silver bullion. The bars are available in 500g, 1kg, 2kg and 5kg with a purity of 99.9%. Figures show that gold was fifty times more expensive than silver in 2007, but now that figure has reached over seventy times. Analysts say that silver has been undervalued in recent years. They add that the metal is the right investment for individual investors and could be a good way to cash in."

The full article is here
http://www.mineweb.com/mineweb/view/mineweb/en/page33?oid=88452&sn=Detail


The ramifications for gold and silver are HUGE if the chinese people take this up.

I can only think back to the "old days" of communism when a decree went out to erradicate flys.
Within a relatively short time China was largely fly free!!!!!!!!!!!!

[Phaedrus]

Well, Stevo, it's not hard to see where the volume kicked in! It's nice when the price and OBV trendlines are broken simultaneously (Green arrow "Buy" signals). This all looks pretty positive, but I wouldn't get too ecstatic until the resistance at 9 cents is overcome.

http://h1.ripway.com/78963/MAR94.gif

Chart shows current position as at 2.10pm. The Close may be different.

[stevo1]

Well, Stevo, it's not hard to see where the volume kicked in! It's nice when the price and OBV trendlines are broken simultaneously (Green arrow "Buy" signals). This all looks pretty positive, but I wouldn't get too ecstatic until the resistance at 9 cents is overcome.

http://h1.ripway.com/78963/MAR94.gif

Chart shows current position as at 2.10pm. The Close may be different.

Not really one to get estatic P seen it all turn too quickly in the past.
Just as now with volume going up and price moving down.
But i do value your TA input .(which at this moment is probably looking negative).But for some reason I am unable to seethe chart?
Thanks for taking the time to reveiw

[stevo1]

MAR starting to drill anomlies of tin at Delungra exploration License.

http://www.asx.com.au/asxpdf/20090907/pdf/31kl1sjhr3bs58.pdf

[stevo1]

Well, Stevo, it's not hard to see where the volume kicked in! It's nice when the price and OBV trendlines are broken simultaneously (Green arrow "Buy" signals). This all looks pretty positive, but I wouldn't get too ecstatic until the resistance at 9 cents is overcome.

http://h1.ripway.com/78963/MAR94.gif

Chart shows current position as at 2.10pm. The Close may be different.

Not ecstatic Phaedrus but the 9cent level has been reached .
For some reason your charts do not appear on my computer?
But a red X where they should be???

[stevo1]

You can try to right click on the red x and then select show image from the drop down menu. That might work for you stevo :cool:

Hi Yankiwi na tried that all it does is make the red X disappear,but thanks for trying to help.

[stevo1]

Could probably say 9 cps has been convincingly broken.
Now at 10.5cps volume at 179 000 probably a bit light to be totally convincing ATM.
Silver price and Chinese whispers probably the cause.

[stevo1]

Appear to be discussing this with self ,however price has moved up this morning 17.5% to 13.5cps.
Dont know how this looks on TA but not unhappy to see more upward movement

[macduffy]

Don't like you talking to yourself, stevo so I took some time to re-visit this stock so I could join in the discussion. I had had a quick look some time ago, attracted to the "silver story" but not followed it up.

Things now seem to be moving with a bit of purpose following the capital raising. For what it's worth, Phaedrus' chart makes a pretty picture to my untrained eye - the trend is solidly upward on higher volume; the RSI and OBV indicators are moving in the right direction.

I'd like to get a firmer handle on their next move and the timing thereof. Will do a bit more reading and may decide to join the party.

Presumably the JV with MacMin has fallen over with the latter's demise but I doubt whether that had progressed very far anyway.

;)

[Dr_Who]

Macduffy, give us your views on it. I just dont have the time to read every bloody good potentail story that comes along.

I may join you if you like this story.

Cheers.

[drillfix]

Now there looks like a bit of dark cloud cover.

Lets see what the candle looks like after close.

[macduffy]

I'm not rushing into it, doc.

For starters, MAR is a tiny company, even by "junior miner" standards. 140m shares on issue, M Cap around $17.6m.

Chairman/CEO is a former NSW Commissioner of Mines by the name of Dr Garry Lowder, over 40 years experience. Not sure how much to read into that.

MAR's interests are mainly in Northern NSW with its best prospect being the Conrad Silver Project, based around an old, long abandoned silver mine. In fact most (all?) MAR's projects seem to be former mining areas. They have been active recently trying to sell the idea of a JV for the Conrad project to prospective Chinese partners and make the usual encouraging noises about that. It's possible that something in the wind there, or the prospect thereof, might be driving the SP at present.

Other prospects include a possible small scale surface tin mine - the Karaula Lead, within the Elsmore Project which they reckon could be a low cost, low risk cash flow provider; and the Standon Tin Project where drilling commenced on 7 Sept. So there are these other potential influences on the SP.

A recent SPP raised $933k at 5.5cps - which is indicative of the small scale of this company. Cash was subsequently shown at about $1.7m.

SP has doubled since then on relatively high turnover so I'm thinking that the big SP jump has already happened.

As I say, I'm not rushing into it but it makes an interesting little project!

;)

[stevo1]

I'm not rushing into it, doc.

For starters, MAR is a tiny company, even by "junior miner" standards. 140m shares on issue, M Cap around $17.6m.

Chairman/CEO is a former NSW Commissioner of Mines by the name of Dr Garry Lowder, over 40 years experience. Not sure how much to read into that.

MAR's interests are mainly in Northern NSW with its best prospect being the Conrad Silver Project, based around an old, long abandoned silver mine. In fact most (all?) MAR's projects seem to be former mining areas. They have been active recently trying to sell the idea of a JV for the Conrad project to prospective Chinese partners and make the usual encouraging noises about that. It's possible that something in the wind there, or the prospect thereof, might be driving the SP at present.

Other prospects include a possible small scale surface tin mine - the Karaula Lead, within the Elsmore Project which they reckon could be a low cost, low risk cash flow provider; and the Standon Tin Project where drilling commenced on 7 Sept. So there are these other potential influences on the SP.

A recent SPP raised $933k at 5.5cps - which is indicative of the small scale of this company. Cash was subsequently shown at about $1.7m.

SP has doubled since then on relatively high turnover so I'm thinking that the big SP jump has already happened.

As I say, I'm not rushing into it but it makes an interesting little project!

;)

Hi Macduffy cant say there is anything to disagree with in your summation.
But I will add that MAR does NOT appear to be ramped on any chat sites I follow (Hotcopper,Topstocks etc) which I see as a positive.
It is not my intention to ramp it here so all comment is wellcome.
unfortunately I am "blind" as I cannot see P's TA charts on MAR so unable to assess TA but
price of silver appears to be rising.
sp still quiet some way off all time high of around 43cps june 2007 when silver was about $14/oz
Sp may well drop away

[stevo1]

This has the potential to drive MAR foward, havent done any research on the private chinese co as yet though here is the link
http://www.asx.com.au/asxpdf/20091015/pdf/31lbrzvjqm9ld0.pdf

[kerryo]

Sounds good to me.:D

[stevo1]

Have googled Nanyang Mining Rescources Pty Ltd havent found anything however here is an extract from todays The Australian

"This morning Malachite announced a strategic alliance with Nanyang Mining Resources, with Nanyang investing $1.28 million to become Malachite’s largest shareholder. It will also become the joint venture partner at Conrad. The Chinese company will put up the money for a new drilling program, which is expected to start early next year.

Nanyang’s major shareholder is Y.K. Wong, who migrated to Australia in 1995 and has extensive property development interests in Guangdong province. "
full article here

http://www.theaustralian.news.com.au/business/story/0,28124,26213534-15023,00.html

[kerryo]

Crikey, what just hit us .... down 4%:(

[kerryo]

Down 30% now to .09 .... how do stop losses work again?:rolleyes:

[stevo1]

Down 30% now to .09 .... how do stop losses work again?:rolleyes:
Hi Kerryo
I am still holding ,this one is going to take some patience I think ,and like all junior miners has a significant element of risk.
If you are trading I would have thought you would have a trailing stoploss .
MAR by its nature (small cap junior miner)is volitile,but also allows for great gains(and losses).
I think that I can see good long term gain but could be wrong have been before.

[kerryo]

Bush fire knocks out drilling rig for a month .... I'm out:mad:

[JBmurc]

yes yet another silver explorer with potential worth keeping an eye on with the recent funding agreement still think it's hard to go past ARD at the moment in the silver explorer stakes.

ARD,SVL,MAR anyone know of any other silver explorers worth studing

there are more patents registered worldwide each year for new uses of silver than for all other metals combined.

[Lego_Man]

Some unusual trading activity of late including an extremely high volume (positive) day on Friday. Perhaps the worm has turned again - could be an inkling of good drilling results!