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  1. #241
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    Quote Originally Posted by Aotea View Post
    Gidday,
    Ive held a copy of 39322 and the areas that are to be surrendered. I just dont know how to drop it onto the forum...it is chunks from around the entire tenement, and my impression is that they have been highly selective and picked the bones dry....
    Interesting. The CM page now shows 39322 as 8944 sq km (894,400Ha), but the map appears unchanged. I think it's just a matter of time before the updated map is posted.

    The GunClub mining application might be sorted before Christmas too...both were put in close together.

  2. #242
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    Quote Originally Posted by elZorro View Post
    Interesting. The CM page now shows 39322 as 8944 sq km (894,400Ha), but the map appears unchanged. I think it's just a matter of time before the updated map is posted.

    The GunClub mining application might be sorted before Christmas too...both were put in close together.
    Yes EZ I saw that too...but they have surrendered chunks all over the place, including a spot we are putting a claim in on...

  3. #243
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    Quote Originally Posted by Aotea View Post
    Yes EZ I saw that too...but they have surrendered chunks all over the place, including a spot we are putting a claim in on...
    Aotea, that's good, you're on your way then. Note also that GEL's Roaring Meg, PP50892 near the Cardrona area has been dropped a year early, on 17/12/09. There's been a lot of paperwork going on in the last month or two, by the look of it. It would be a huge job keeping a track of all these areas.

    Not a lot of interest in picking up GEL shares at the asking price for the moment: but I do note that there are very few available on the TSX, and lots wanting to buy cheaply as per usual.

  4. #244
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    Default The new map for PP39322

    On 18th December Glass Earth's CM file was modified for PP39322, and the new map was locked in. You have to look inside the big file to get the map, the smaller maplink doesn't seem to be updated at the moment.

    Like you say Aotea, there are big gaps everywhere. They've kept everything near Macraes mine, and around the outside of their mining permits, with a big hole inland from Dunedin. New area is 8944 sq km.

    The CHFIR profile was updated again on 17th Dec. I can't see any major change (again), there are still some gaps in the info, a few typos. Is any of this new?

    Glass Earth’s strategy is to apply sophisticated use of new technology, over whole geological provinces permissive for large gold deposits. Glass Earth is now at the target specific drilling stage in three egions: Hauraki; Mamaku and Otago.
    Key targets in those areas are:

    • WKP in Hauraki (Newmont funded)
    • Muirs in Mamaku
    • Serpentine in Otago.
    • Rise & Shine gold prospect in Otago.

    Glass Earth’s strategy for 2009 onwards is therefore simple:

    To continue work on high priority targets,building towards NI 43 101 compliant resources; and

    Place mining to provide sustainable cash flow; with the first plant expected to be running by year-end 2009.

    Glass Earth is well placed to achieve this in terms of:

    Its extensive ground position; Experienced management; Its funding and contributory joint ventures.

    MANAGEMENT AND DIRECTORS

    MR. SIMON HENDERSON, MSc BSc (Hons), member, AusIMM - President and CEO:
    Mr. Henderson is a founding shareholder of Glass Earth and is a geologist with over 30 years experience in the gold mining and exploration industry.

    MR. JOHN DOW, Chairman (non-executive):
    Mr. Dow is a geologist, joining Newmont Australia in 1978, culminating in him being appointed Chairman and Managing Director of Newmont Australia (previously Normandy Mining Limited) in April 2002.

    MR. PETER LIDDLE, CFO and Company Secretary

    MESSRS RICHARD BILLINGSLEY, PAUL C. JONES and STEVEN BURNS (Canadian/North American based non-executive Directors) provide valuable guidance in their respective areas of exploration, mining and finance.

    FUNDING/CONTRIBUTORY JOINT VENTURES

    Glass Earth has C$1.2M in cash as at Q2 2009 and has three contributory joint ventures, including two with Newmont over the Hauraki Region and an area immediately adjacent to the Martha Gold Mine.

    Management considers that, with a prudent approach, this combination of funds and contributory joint ventures should allow Glass Earth to build towards NI 43-101 resources into mid-2010 without recourse to further funding.
    Last edited by elZorro; 21-12-2009 at 10:59 AM.

  5. #245
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    Default ODT article

    I did a google trawl and picked up this article by Simon Hartley in the ODT.

    Glass Earth goes for cashflowHome » News » Business
    By Simon Hartley on Tue, 1 Dec 2009
    News: Business
    Glass Earth Gold's working capital has shrunk below $1 million for the first time since its October 2006 dual listing on the Toronto and New Zealand stock exchanges, after the company spent more than $24 million in that period on exploration around the country, mainly in Otago.

    The explorer is looking to become a boutique gold producer to create cashflow, having late last week posted a third-quarter loss of $218,000, leaving it with working capital of $934,000.

    In October, Glass Earth announced it intended to undertake a private placement in Canada for financing of $667,000 and as at November 26, $381,000 had been received.

    Glass Earth's chief executive Simon Henderson said working capital of $934,000 at September 30, together with "cash from or work undertaken by contributing joint venturers", was budgeted to carry the company through into "early 2010".

    "Cash generated from placer [alluvial] mining, in the Ida Valley, or boutique hard rock mining, near Ophir, would be additional to this," he said in a market update.

    All consents for the McAdies alluvial gold mining project in the Ida Valley were expected to be in place by this week.

    "All necessary equipment is in place and ready to be mobilised to site with commencement of mining expected shortly afterwards," he said.

    Also in the Ida Valley, consent applications for the Gun Club/Nevills alluvial (loose) gold project, had been lodged and were being processed, he said.

    Last month, Glass Earth recovered some gold during bulk testing using a seven-tonne crushing plant near Ophir.

    Mr Henderson said a 40-tonne floating gold recovery unit, bought in conjunction with a mining partner, was being leased out.

    The company was continuing exploration elsewhere, including the test drilling in the Mamaku volcanic region, plus stream and pan-concentrate sampling in Marlborough, outside known historical workings.
    This lines up: the Gun Club MP is close to being granted by Crown Minerals most likely. GEL has also started to recover gold at Ophir. It's possible that the webmaster for GEL will post us some photos of these operations and the new-look GRU on the website (a promise is a promise...)

    Part of the November 12 press release about Ophir:

    Glass Earth has recently constructed a purpose-built pilot plant (5-7 tonnes/hour throughput) designed to recover coarse/fine free gold by means of conventional crushing/grinding followed by a gravity separation process. An initial bulk sample of approximately 150 m3 is currently being processed in order to confirm the crushing parameters and recoveries. Following this test, the pilot plant will be relocated on site at the Wai-iti vein system for additional bulk testing.

    Following a successful Evaluation Phase (November 2009), an affirmative decision to mine would allow for the construction of a larger plant (circa 40 tonnes/hour throughput), completion of regulatory consents and mining. The potential to replicate the mining on other pods of near-surface ore will be progressively evaluated thereafter.
    Last edited by elZorro; 21-12-2009 at 11:28 AM.

  6. #246
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    Partial surrender of GEL by 0.38km2 on the books today also...

    EZ, by now GEL should definately be making money from Ophir Gold I would expect.

  7. #247
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    Default GEL website updated

    Well done Glass Earth Gold (Andrew?): the website has been updated today with some beaut photos of the GRU on its lease site (helping at Earnscleugh?) and also some photos of the new smaller GRU at McAdies. Have a look, they're impressive. Aotea, there seems to be some water at McAdies...

    http://www.glassearthlimited.com/gallery.html
    Last edited by elZorro; 21-12-2009 at 01:40 PM.

  8. #248
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    Quote Originally Posted by elZorro View Post
    Well done Glass Earth Gold (Andrew?): the website has been updated today with some beaut photos of the GRU on its lease site (helping at Earnscleugh?) and also some photos of the new smaller GRU at McAdies. Have a look, they're impressive. Aotea, there seems to be some water at McAdies...

    http://www.glassearthlimited.com/gallery.html
    mmm, Earnscluegh..I dodnt even know they were working there. That water is actaully a surface water intersect from the Clutha/ Frasers which isnt a worry, they are allowed as permitted 1M litres per day at a rate of 100l/sec without a consent!. Where is the McAdies prospect EZ?

  9. #249
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    Quote Originally Posted by Aotea View Post
    mmm, Earnscluegh..I dodnt even know they were working there. That water is actaully a surface water intersect from the Clutha/ Frasers which isnt a worry, they are allowed as permitted 1M litres per day at a rate of 100l/sec without a consent!. Where is the McAdies prospect EZ?
    Hi Aotea, I think an operator working at Earnscleugh has leased the big GRU from GEL. Might be a good idea, they can sort out any bugs..as long as GEL gets it back when they're ready. Would this be the same operator with the really huge bucket dredge? I think it was moved a while back, I posted about it.

    McAdies is on a slight incline just below German Hill Diggings, Ida Valley, just off the end of McAdies Road.

    Not too far away is the Gun Club project, MPA52021, which is bigger at 146.5 Ha. It's adjacent to the Falconer prospect, Poolburn (MP41762), and those guys have been doing really well by the look of it, with three employees, just with alluvial/placer gear and diggers.
    Last edited by elZorro; 21-12-2009 at 02:38 PM.

  10. #250
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    Quote Originally Posted by elZorro View Post
    Hi Aotea, I think an operator working at Earnsleugh has leased the big GRU from GEL. Might be a good idea, they can sort out any bugs..as long as GEL gets it back when they're ready. Would this be the same operator with the really huge bucket dredge? I think it was moved a while back, I posted about it.

    McAdies is on a slight incline just below German Hill Diggings, Ida Valley, just off the end of McAdies Road.

    Not too far away is the Gun Club project, MPA52021, which is bigger at 146.5 Ha. It's adjacent to the Falconer prospect, Poolburn (41762), and those guys have been doing really well by the look of it, with three employees, just with alluvial/placer gear and diggers.
    Gidday,
    Yep, I do know the Earnscleugh project you talk of now...as for Adies yes it has real promise, but it doesnt have water available with the exception of flood harvesting into dams. Should be an interesting year for GEL.

    Merry Xmas to you all who have contributed to the GEL forum...Mid-Late feb is fishing time..

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