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 NWR - Northwest Resources Ltd
NWR: http://www.nw-resources.com.au/
Shares: 32.7 mill +15 mill esc., a total of 47.5 mill. Price 26 cents
Options: 12.2 mill(NWRO)to be converted on 31 June 2008 @20 cents, price: 12 cents, but very thin trading. Also 15.6 unlisted options 2008-2011.
NWR is concerned with Gold and antimony. At 1% per tonne, antimony is the equivalent of about 2.4 grammes of Gold or $A65 (Gold US$640; $A=0.76).
As up to 10% antimony is encountered in Situ, this alone is a strong contributor to potential profit.
"The price of antimony (sold on the LME) has increased over 160% since 2001 to a current price of around US$4,050 per tonne".
INFRASTRUCTURE:
22 Febr 2006:
"Infrastructure on site In addition to the obvious value of high grade gold-antimony mineralisation at Northwest’s Blue Spec Shear project, Northwest also benefits from significant existing mining infrastructure adjacent to the Golden and Blue Spec mines, including: #56256;#56451; Established shafts, declines and access drives
#56256;#56451; 40,000 TPA treatment plant (upgradeable to 80,000 TPA with additional float cells)
#56256;#56451; Access to sufficient water for operations
#56256;#56451; Tailings dam
#56256;#56451; Full mining camp #56256;#56451; Good roads - only 2 hrs from Newman
#56256;#56451; Granted mining leases - no Native Title issues
This infrastructure will significantly reduce the capital expenditure required to bring Blue Spec, Golden Spec and other deposits identified along the extent of the Blue Spec Shear into production allowing Northwest to fast track development".
PROJECT NULLAGINE- Gold and antimony
9 Dec 2005: High grade gold-antimony results confirm Green Stripe discovery:
http://sa.iguana2.com/cache/3db9ce61...NWR-393739.pdf
22 Febr 2006: Golden Spec Delivers Visible Gold-Antimony Assays
http://sa.iguana2.com/cache/9efe6fe4...NWR-401018.pdf
14 July 2006: Second High Grade Gold Shear Discovered
http://sa.iguana2.com/cache/051f2f44...NWR-418108.pdf
27 July: High-Grade Results Continue From Golden Spec
"A JORC compliant resource for the “new” Golden Spec and Green Spec deposits will be announced in mid August, with a “new” Blue Spec resource announcement anticipated for late 2006.
Northwest has initiated a scoping study (the pre-cursor to a feasibility study) on jointly developing the “new” Golden Spec and Blue Spec deposits as well as the rapidly emerging Green Spec deposit discovered late last year. The scoping study will report on engineering and mine design options, capital expenditure and additional infrastructure requirements and metallurgical test work and processing options.
Northwest considers that pre-production capital expenditure to bring the “new” Golden Spec and Blue Spec deposits into production will be relatively low due to the presence of established infrastructure,
including shafts, declines and access drives for underground mining, a proven treatment plant and tailings dam on site and access to sufficient water for operations.
Current drilling: Drilling activities are progressing well with diamond drilling now being directed towards extensions of the “new” Blue Spec deposit and RC drilling having recently completed another pass of extensional drilling below the Green Spec deposit. Results will be released to the market as soon as they are available.
31 July: Fourth Quarter Activities & Cashflow Reports
http://sa.iguana2.com/cache/c0e4691f...NWR-419762.pdf
#56256;#56451; The Green Spec deposit confirmed as the third significant gold deposit on the high-grade Blue Spec Shear supporting Northwest’s theory that the Shear hosts multiple high-grade gold deposits.
#56256;#56451; The “new” Golden Spec deposit continues to return impressive high gold grades at depth.
#56256;#56451; Northwest commenced a scoping study (the pre-cursor to a feasibility study) on jointly developing the “new” Blue and Golden Spec deposits as well as the rapidly emerging Green Spec deposit
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"A JORC compliant resource for the “new” Golden Spec and Green Spec deposits will be announced in mid August, with a “new” Blue Spec resource announcement anticipated for late 2006".
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Junior Member
What's your take on this company Gerry? Seems to have broken through some fairly hefty MA's recently.
What is meant by golden, green, and blue spec?
Please excuse my ignorance, I need to be cured with education.
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I hold shares of course.
These are names of projects: one needs to study the maps in the announcements. Some announcements take time to open.
Quarterly:
http://sa.iguana2.com/cache/c0e4691f...NWR-419762.pdf
Gerry
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18 000m RC Programme Commenced at Blue Shear Project
http://sa.iguana2.com/cache/fd552abd...NWR-423736.pdf
The map is well worth looking at.
Extract:
"Northwest has commenced an 18,000m RC drilling programme directed at a series of exciting new
gold targets identified along both the Blue Spec Shear and the newly discovered Red Ribbon Shear.
The aim of this programme is to confirm Northwest’s theory that the Blue Spec Shear and the Red
Ribbon Shear host multiple high-grade and near surface gold deposits.
Northwest’s Blue Spec Shear Project, located less than 2 hours drive from the Pilbara hub of Newman, is one of the highest grade gold projects in Australia with existing deposits expected to
grade in excess of 20g/t gold.
This drilling programme represents the culmination of 18 months of technical assessment and modelling by Northwest’s exploration team and will be the first systematic and comprehensive drilling programme ever undertaken within the project area outside the immediate vicinity of the Blue Spec and Golden Spec deposits
"Exploration and Development Update
Northwest’s exploration and resource development activities are continuing at pace:
#56256;#56451; Diamond drilling activities are on schedule with the last of the Green Spec extensional
diamond drill holes nearing completion. Following this, diamond drilling will re-commence at
the Blue Spec deposit and continue until the end of the year.
#56256;#56451; Completion of an initial JORC resource statement for the Golden Spec and Green Spec
deposits is nearing completion and will be finalised once recent extensional diamond drilling
results have been returned and incorporated into the calculations.
#56256;#56451; Surface geochemical sampling and structural mapping is continuing within both the Blue
Spec Shear Project and Camel Creek Project. This work is continuing to identify areas of
significance for Northwest’s future exploration focus".
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High Grade Gold Mineralisation Extended at Blue Spec
http://sa.iguana2.com/cache/bba79393...NWR-425225.pdf
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High-Grade Results Continue at Green Spec
Extract:
The first results from the final stage of resource drilling at Northwest’s Green Spec deposit have returned significant gold and antimony intersections which confirm the continuity of, and extend to a vertical depth of 170m, the high-grade mineralization at the deposit. Significant intersections from drilling targeting the western extent of the deposit include:
Green Spec
15m grading 20.2 g/t gold
including 6m grading 47.1 g/t gold & 2.84% antimony
(from 148m down-hole)
11m grading 6.4 g/t gold
(from 47m down-hole)
4m grading 11.0 g/t gold and 3.85% antimony
(from 28m down-hole)
Results from resource drilling targeting the eastern extent of the Green Spec deposit are anticipated shortly. This component of the deposit is currently interpreted to represent a large tonnage lowgrade
gold/high-grade antimony lode which may add significantly to any potential future development.
A composite long section showing current and previous drilling intersections at Green Spec is set out on the following page.
Exploration drilling within the Green Spec footprint in current drilling programme:
The surface alteration and structural footprint surrounding the Green Spec deposit is approximately 750m in strike extent and up to 135m wide.
As part of Northwest’s current 18,000m RC drilling programme significant exploration drilling has already been directed into the Green Spec footprint in an effort to identify further high-grade mineralization close to the Green Spec discovery zone.
Northwest is confident of identifying a multiple shoot setting at Green Spec and is utilising several advanced targeting techniques to locate additional mineralised positions. The identification of further
resources within close proximity to Green Spec would significantly improve the economics of any potential mining development".
COMMENT: 1% antimony is about 2.4 grams gold or about $A60/tonne.
http://sa.iguana2.com/cache/69bf7aea...NWR-428831.pdf
Includes map.
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Eat your heart out, gold, silver, oil suks
Copper, nickel, zinc roars !
LATEST FUTURES NEWS
UPDATE 2-Gold out of steam after gains, bear trend stays
Friday, October 6, 2006 9:33:52 AM
http://www.reuters.com
(Updates with quotes, prices; pvs Tokyo)
By Atul Prakash
LONDON, Oct 6 (Reuters) - Gold edged lower on Friday with a drop in oil prices and dealers said the metal may slip further as sentiment remained bearish following this week's sell-off.
Platinum touched a six-month low before slightly recovering, while gold traded in a narrow $5-an-ounce band against an average $18 in the past three days, with the market keeping an eye on movements in oil and the dollar.
"Gold is pretty much tracking what oil is doing. I think with oil breaking $60 a barrel again, gold is going to drift lower," said a precious metals dealer in London.
"There will be physical buying but I don't know whether that will be enough to support the market. People are nervous and still hoping that we will see a rally, but it depends on oil."
Spot gold <XAU=> traded down at $570.90/571.90 an ounce by 1000 GMT, compared with $572.50/573.50 late on Thursday in New York, where it rose one percent.
Oil fell below $60 a barrel, with traders weighing OPEC's plans to cut production against overflowing stockpiles in top consumer the United States. Oil prices are now down more than five percent from a week ago.
"Near-term sentiment on gold is likely to remain weak, with this recovery possibly interpreted as a correction within a correction," Standard Bank said in a daily report.
Investors were wary of buying fresh positions even though gold regained some strength the previous day after plunging almost 8 percent on Wednesday to $559.40 an ounce, the lowest since mid-June, from last week's high of $606.50.
"Despite the bounce yesterday the return of weakness in the oil market is likely to weigh further on gold," James Moore, analyst at TheBullionDesk.com, said.
"However ... a period of correction/consolidation is perfectly normal and is constructive longer-term, allowing investors to enter the market at more affordable levels."
Physical gold buying in India, the world's largest consumer of the metal, gained momentum during the festival season. Appetite from the Middle East was also expected to be strong, dealers said.
In other precious metals, silver <XAG=> fell to $11.01/11.11 an ounce from $11.07/11.14 late in New York, while platinum <XPT=> fell as low as $1,069, the lowest since mid-April, before recovering to $1,078/1,083, versus $1,081/1,086.
Palladium <XPD=> fell to $296/301 an ounce from $299/304.
Norilsk Nickel <GMKN.RTS>, the world's largest nickel and palladium miner, more than doubled net profit in the first half of 2006. It lifted platinum sales to 336,000 ounces in the first half of 2006, from 327,000 ounces a year ago. Palladium sales fell to 1.45 million ounces from 1.47 million. [ID:nL06844555] (Additional reporting by Chikafumi Hodo in Tokyo)
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