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  1. #11
    FEAR n GREED JBmurc's Avatar
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    Financial Considerations and Upside Potential
    Depending on what the JV delineates at Menzies, the ore could either be trucked and toll-treat at EGS'
    Davyhurst plant or have its own plant at Menzies. IRC estimated the cost of having its own ~400ktpa hard
    rock rated plant as ~$20m to $25m, so it is not justified at present, and a different size may be envisaged
    by EGS when its Ida complex is included. But just how big could Menzies become? It has clearly become
    forgotten. There are not many WA goldfields which had historic grades where 2oz/t to 5oz/t (~70g/t to
    ~170g/t) was common as visible gold in thick quartz, and I have never heard of a mine with an average
    recovered grade of almost 100g/t, but yet both the aptly named Surprise and Surprise North that lay on
    strike north of Selkirk did - and do not appear to have been looked at (or explored) since 1915!
    Grade intersections were usually double digit, anything less than that was ignored as too low or
    classified as "not typical Menzies". And despite its open-cuts typically being 50m to 100m deep and
    ~1moz extracted from the ~10km long goldfield, it has become forgotten. Perhaps it was also fueled by
    ~2.5g/t reported open-cut grades, whereas if they had been 3g/t to 4g/t, Menzies would have attracted
    more interest. I recall Goldfields often stating that they wished they had gone underground at Menzies, but
    didn't, & being intrigued as to why something that averaged 2.5g/t prompted such interest, (unless grades
    were higher). Having now raised sufficient cash, IRC appears to be in a prime position to grow and
    develop Teal and Goongarrie Lady, with the strategic JV with EGS enabling the development of the rest of
    Goongarrie and Menzies (both shallowly drilled with many gaps and possibly overlooked geology).
    Management
    Board of Directors
    Peter Hunt – Non-Executive Chairman (Non-exec director since inception, ie over 20 years). Peter is a Chartered
    Accountant who holds and has held a number of directorships in listed and unlisted companies.
    Peter Bilbe – Non-Executive Director since 2016. Peter is a mining engineer with over 40 years' experience in the
    Australian and International mining industry at the operating, corporate and business level, with comprehensive
    operational experience. Peter has held a number of senior positions and is currently Non-Exec Chairman of IGO.
    Jon Price – Managing Director since 2016. Jon is a metallurgist and mineral economist with over 25 years'
    experience in WA and overseas in all aspects of mining from finance, exploration, development and construction.
    Jon was GM at Paddington and St Ives, and was the founding MD of Phoenix Gold.
    Lorry Hughes - Executive Director (Business Development) since 2015. Lorry is a geologist with over 20 years'
    experience and has held a number of senior management positions on mining and development projects with major
    companies such as RIO and Barrick. Lorry was previously MD & CEO of South Boulder Mines Ltd
    Bianca Taveira - Company Secretary since 2010 - Bianca has been providing administration and secretarial
    services to many listed and unlisted public companies for 17 years.
    Senior Management
    David O'Farrell - Exploration Manager since 2012. David is a geologist with over 25 years' experience in all
    aspects of exploration, development and mining in Australia and overseas, having worked on many operations and
    projects.
    Grant Haywood - Mining Manager since 2016. Grant is a mining engineer with over 25 years' experience in
    underground and open-cut mining operations, having managed projects from feasibility study through to operations
    mostly in the WA goldfields for junior and multi- national gold mining companies.
    Chart of Intermin Resources Limited (September 2015 to September 2016) (Source : www.yahoo.com)
    IRC's share price
    broke out ahead of its
    placement...
    ..and has drifted back,
    with the market yet to
    recognise its potential ..... 20c+ short term target

    Analyst report--
    http://www.intermin.com.au/wp/wp-con...irc19sep16.pdf


    Disc-in today @10.5c will be looking to build a good size position over the rest of the year ....major fan of the MD -JP always keep holders in the loop,,,,think least 200-300% to be made year over next 12-16months
    much like I just made from MKO
    Last edited by JBmurc; 05-10-2016 at 09:26 PM.
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  2. #12
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    Default My only Gold stock ....will top 20c in 2017 IMHO

    NEW MINERALISATION DISCOVERED
    SOUTH OF THE TEAL GOLD PROJECT
    HIGHLIGHTS
     First phase of RC and diamond drilling completed at Teal and Peyes Farm
     Significant high grade mineralisation intercepted in all holes drilled at the newly
    discovered Jacques Find prospect with uncut results including:
     11m @ 7.75g/t Au from 51m
    (including 7.8m @ 10.69g/t Au from 53.5m) – PFDD1601
     9m @ 6.99g/t Au from 89m – PFRC1632
     5m @ 7.44g/t Au from 73m and 6m @ 3.02g/t Au from 114m – PFRC1633
     6m @ 7.16g/t Au from 107m
    (including 4m @ 10.35g/t Au from 107m) – PFRC1634
     The new prospect islocated 500m south along a parallel strike zone from the Teal gold
    mine currently in development
     PFDD1601 was drilled to confirm the discovery hole which returned a similar downhole
    interval of 15m @ 5.00g/t Au from 48m (including 6m @ 10.89g/t Au from 49m) 1
     Mineralisation interpreted to dip steeply to the west, is open along strike and
    comprises two parallel lodes
     Jacques Find now elevated in priority and follow up drilling along strike has
    commenced
    Commenting on the initial results Intermin’s Managing Director, Mr Jon Price said at Jacques Find
    high grades have been defined for 70m down dip and the focus is now on growing that along
    strike where there has been shallow or little historic drilling.
    “The exploration team have done an exemplary job with target generation and to have all drill
    holes hitting high grade mineralisation is a testament to the potential of this area. A special
    mention to our Project Geologist Jacques Pieters after whom the prospect is named and we look
    forward to the results of the follow up drilling along strike that is now underway.
    As part of our planned accelerated drilling program across our 100% owned projects in the
    Kalgoorlie region, extensions along strike and at depth at the Teal gold project area will be a key
    focus along with other high priority targets on the Zuleika and Bardoc shear zones,” he added.
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  3. #13
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    12c close which is brilliant when you see so much downwards pressure on many in the ASX Gold sector while IRC is heading the other way with tight volume buying
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  4. #14
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    INTERMIN AND AXF FORM JOINT VENTURE TO ADVANCE
    RICHMOND VANADIUM - MOLYBDENUM PROJECT
    HIGHLIGHTS
     Intermin Resources (ASX: IRC) executes a binding Heads of Agreement with AXF
    Resources Pty Ltd (“AXF”), a wholly owned subsidiary of the AXF Group
     The joint venture covers the 100% owned Richmond project in North-Western
    Queensland and metal rights owned by Intermin on nearby properties1
     The project area contains extensive Vanadium – Molybdenum mineralisation
     Agreement covers an earn in joint venture as follows:
     AXF to sole fund and manage A$6m of technical beneficiation and
    commercialisation studies over 4 years to earn a 75% interest in the project
     Intermin free carried to study completion
     AXF to subscribe for $430,000 in Intermin shares
     Since 2008 Intermin has completed drilling, beneficiation testwork and directional
    studies at Richmond providing AXF with a substantial technical database from which
    to continue development
     Sample collection and further beneficiation testwork to commence in the March
    Quarter 2017
    Commenting on the Agreement Intermin’s Managing Director, Mr Jon Price said the joint venture
    enabled dedicated funds and focus toward commercialising the project while maintaining upside
    exposure for Intermin shareholders as the Company focuses on growing the gold business.
    “Richmond is a multi-billion tonne project that requires significant funding and focus to take it
    forward so we are delighted to be working with the highly credentialed AXF team to advance a
    technical and commercial outcome,” he added.
    AXF Managing Director, Dr Shuang Ren commented “AXF is delighted to participate in this worldclass
    project with some key challenges. AXF will work closely with Intermin to advance the
    project”.


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

    Once a prolific developer, AXF has sold all its property holdings — except one — over the past two years for about $700 million, including some prominent sites such as the Fairfax House at 19-31 Pitt Street in the Sydney CBD, which was offloaded to China’s Dalian Wanda for $73m. Wanda also bought the adjoining Gold Fields House for $425m.

    Almost simultaneously, Mr Gu, the scion of a well-established Chinese developer in Shanghai, began his venture into mining and has since spent more than $100m in the hard-hit sector, buying the Gold Ridge gold mine in the Solomon Islands and the Mt Anderson iron ore mine in Western Australia.
    “It’s not simply because we are seeing uncertainties in the property market after it has gone up for a period of time,” Mr Gu, AXF’s founder and chairman, told The Weekend Australian.
    “With more state-owned and listed Chinese developers entering the Australian market, there’s just too much competition and AXF as a private company is not in the position to compete with these big guys. We need to change our focus.”

    Apart from Dalian Wanda, Chinese property giants such as Greenland Group, Poly Real Estate and Country Garden have expanded in to Australia over the past two or three years, hunting for development sites in a market that is far shallower than their home market.
    “It works better for us to cash in now and just wait for a few years, particularly when the market may probably cool down a bit,” Mr Gu said. The company would still assess potential opportunities in the property market.

    The company has sold 241 Castlereagh Street in the Sydney CBD to Chinese-backed Visionary Investment Group, the Kinnears Ropeworks site in Melbourne’s Footscray to Guangzhou-based R&F Properties and a Box Hill site in Melbourne to Jeff Xu’s Golden Age.

    With funds out of flipped sites, which returned nicely, Mr Gu is starting to make some bargain purchases in the mining sector and has set up a company in Perth focused on mining investments.
    “We are looking for bargains when it’s at the bottom of the market. Just as simple as that,” he said.
    He bought Gold Ridge, the biggest gold mine in Solomon Islands, from listed miner St Barbara around Christmas last year. The price was not disclosed, but it was believed to be a “peppercorn amount” in comparison with what St Barbara paid for the mine four years ago.

    Operations at Gold Ridge have been suspended since April 2014 as St Barbara was concerned about the risk of its tailings dam being breached. But Mr Gu said AXF had completed the dewatering process, paving the way for recommissioning the mine next July.

    “We expect the mine to bring us stable cash flow once it starts production,” Mr Gu said, noting the precious metal had been on the upward trend this year given uncertainties around the world economy.
    The company also bought the Mt Anderson iron ore mine in Western Australian from a private company and hopes to start production by the end of next year.

    “We are aiming for an annual production of five million to eight million tonnes of high-grade iron ore, which will make us the fifth biggest iron ore miner in Australia,” said Mr Gu.
    That might sound a bit ambitious, but he is eyeing more than that. AXF’s mining division has now hired more than 50 employees in Perth and the company itself is moving headquarters to Sydney in November, seeking more opportunities in other areas.

    “Who would talk to me when it was during the mining boom? That used to be a game played only by big companies, but now I can easily hire the best people in the industry,” he said. “It’s all about playing ahead of the cycle.”
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  5. #15
    FEAR n GREED JBmurc's Avatar
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    Ore production commences from Teal gold mine!!!!!!


    ORE PRODUCTION COMMENCES AT TEAL GOLD MINE
    HIGHLIGHTS
     Pre-strip complete and ore mining commenced in northern section of the Teal open pit
     Positive grade control drilling results and modelling completed in the northern half of the
    pit confirms Resource model estimates1
     Haulage of first ore parcel to Paddington mill to commence shortly with first gold sales
    expected in April
     Teal Stage 1 produces 15,567 recovered ounces grading 3.2g/t Au over nine month mine
    life and generates $8.6m cash for Intermin in 2017
    Last edited by JBmurc; 20-03-2017 at 11:23 AM.
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  6. #16
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    GOONGARRIE LADY SCOPING STUDY DELIVERS POSITIVE RESULTS
    HIGHLIGHTS
     Scoping Study completed defining a technically strong and financially viable project with
    the following results
    1
    :
     Oxide and transitional material accessed via shallow open pit mining producing
    142,000t at a diluted grade of 3.40g/t for 15,639 ounces over a 7 month mine life2
     Ore processing at 94% metallurgical recovery produces 14,700 ounces recovered3
     Total funding required for the project to become cash positive is $1.2 -$1.6m1
     Competitive all in cost estimate of $1,000 - $1,100/oz1
     At a gold price of $1,600/oz, the project generates ~ $7 - 8m in free cash flow1
     Study assumes contract mining and haulage with ore milled at a nearby third party facility
     Statutory approvals on track, Feasibility Study commenced for completion in the
    September Quarte
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  7. #17
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    A great run down on IRC going forward from the Prospector

    http://www.intermin.com.au/wp/wp-con...RC_23Mar17.pdf
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  8. #18
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    FIRST ORE SALES PAYMENT FROM TEAL GOLD MINE
    HIGHLIGHTS
     First haulage, sampling and processing of ore from Teal Gold Mine completed successfully
     Initial batch comprised 9,700t at an average mine predicted grade of 2.7g/t Au1
     Initial payment of $0.5M received under the terms of the Ore Sale Agreement2
     Second and third ore batches delivered with payments expected in May1
     Ore mining continues and remedial work on the western wall slip completed
     Grade control drilling completed in the southern half of the pit for modelling ahead of ore
    mining scheduled for June
     Continuous ore delivery expected at 10 - 15,000 tonnes per week until completion in
    August2
     Maximum cash drawdown reached with Teal Stage One now cash positive
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  9. #19
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    Default IRC zero valued added vanadium resource

    Not sure how many read the money & market reports a piece below...

    billionaire mining guru shared his rare view on vanadium. TheNorthern Miner reported on 7 May:
    ‘“We think there’s a revolution coming in vanadium redox flow batteries,” [Friedland] says. “You’ll have to get into the mining business and produce ultra-pure vanadium electrolyte for those batteries on a massive scale.
    ‘We’re very deeply interested in how you store electrical energy in the grid.
    ‘The beauty of the vanadium redox battery is that you can charge and discharge it at the same time, something that can’t be done with a lithium battery. With a vanadium redox flow battery, you can put solar power and wind power into the battery, and you can put excess grid power into the battery at night, and at the same time you can have a stable output into the grid.”’


    As we know AXF Resources are spending $6m by 2021 to earn a 75% interest in our Monster Vanadium-Moly resource that apparently has metallurgical issues, with bulk samples being sent to China for processing testwork..... positive results and IRC will be the most discussed stock on HC as the SP would have muti bagged

    http://www.axfresources.com.au/our-business/vanadium/


    IRC should trend higher from here(tax loss selling ended,IRCO opts expired) ....got email reply from Company sec ....sounds like 30,000m of Gold exploration drilling to come over the short term ...
    Last edited by JBmurc; 02-07-2017 at 04:03 PM.
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  10. #20
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    Default On the AXF Group....great guys to be J.V with ....

    Melbourne-based AXF Group, controlled by Richard Gu, is switching lanes from property to mining as the young developer races to get ahead of the cycle before the resources sector resurrects from a brutal downturn.

    Once a prolific developer, AXF has sold all its property holdings — except one — over the past two years for about $700 million, including some prominent sites such as the Fairfax House at 19-31 Pitt Street in the Sydney CBD, which was offloaded to China’s Dalian Wanda for $73m. Wanda also bought the adjoining Gold Fields House for $425m.

    Almost simultaneously, Mr Gu, the scion of a well-established Chinese developer in Shanghai, began his venture into mining and has since spent more than $100m in the hard-hit sector, buying the Gold Ridge gold mine in the Solomon Islands and the Mt Anderson iron ore mine in Western Australia.

    “It’s not simply because we are seeing uncertainties in the property market after it has gone up for a period of time,” Mr Gu, AXF’s founder and chairman, told The Weekend Australian.

    “With more state-owned and listed Chinese developers entering the Australian market, there’s just too much competition and AXF as a private company is not in the position to compete with these big guys. We need to change our focus.”

    Apart from Dalian Wanda, Chinese property giants such as Greenland Group, Poly Real *Estate and Country Garden have expanded in to Australia over the past two or three years, hunting for development sites in a market that is far shallower than their home market.

    “It works better for us to cash in now and just wait for a few years, particularly when the market may probably cool down a bit,” Mr Gu said. The company would still assess potential opportunities in the property market.

    The company has sold 241 Castlereagh Street in the Sydney CBD to Chinese-backed Visionary Investment Group, the Kinnears Ropeworks site in Melbourne’s Footscray to Guangzhou-based R&F Properties and a Box Hill site in Melbourne to Jeff Xu’s Golden Age.

    With funds out of flipped sites, which returned nicely, Mr Gu is starting to make some bargain purchases in the mining sector and has set up a company in Perth focused on mining investments.

    “We are looking for bargains when it’s at the bottom of the market. Just as simple as that,” he said.

    He bought Gold Ridge, the biggest gold mine in Solomon *Islands, from listed miner St Barbara around Christmas last year. The price was not disclosed, but it was believed to be a “peppercorn amount” in comparison with what St Barbara paid for the mine four years ago.

    Operations at Gold Ridge have been suspended since April 2014 as St Barbara was concerned about the risk of its tailings dam being breached. But Mr Gu said AXF had completed the dewatering process, paving the way for recommissioning the mine next July.

    “We expect the mine to bring us stable cash flow once it starts production,” Mr Gu said, noting the precious metal had been on the upward trend this year given uncertainties around the world economy.

    The company also bought the Mt Anderson iron ore mine in Western Australian from a private company and hopes to start production by the end of next year.

    “We are aiming for an annual production of five million to eight million tonnes of high-grade iron ore, which will make us the fifth biggest iron ore miner in Australia,” said Mr Gu.

    That might sound a bit ambitious, but he is eyeing more than that. AXF’s mining division has now hired more than 50 employees in Perth and the company itself is moving headquarters to Sydney in November, seeking more opportunities in other areas.

    “Who would talk to me when it was during the mining boom? That used to be a game played only by big companies, but now I can easily hire the best people in the industry,” he said. “It’s all about playing ahead of the cycle.”
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

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