MNM Mantle Mining Corporation Limited

[miner]

Last one as past my bed time,was just doing the random ticker trick and found this one,a new listing(well 6 or so weeks ago),but they are due to start drilling so be worth a watch to see what they find(first results mid feb),and that "U" word is in this ann http://www.asx.com.au/asxpdf/2006121...bscgv1jc3p.pdf so...anyway up to you guys as to if you keep half an eye on it or not.

Cheers
Miner

[steve fleming]

Hi Miner....these guys can move to production pretty quickly.

Glengarry Resources Ltd (GGY) sold their Charters Towers project into the IP0...GGY remain a substantial shareholder in MNM with 3 million shares

[steve fleming]

quote:Originally posted by steve fleming

Hi Miner....these guys can move to production pretty quickly.

Glengarry Resources Ltd (GGY) sold their Charters Towers project into the IP0...GGY remain a substantial shareholder in MNM with 3 million shares

Market cap of $8 mil, with lots and lots going on!!

1) Two Advanced Gold Projects in Queensland
o Great Britain Deposit
o Granite Castle Deposit

combined JORC resources of 290,000 oz Au

2) Highly gold prospective ground in Eastern Victoria

a six kilometre gold anomalous corridor (with rock chip values to 42gm/t Au) along a major structure currently being drilled


3) Highly prospective uranium ground in Queensland

as announced yesterday:

" The Phantom Creek tenement is approximately 200km North West of Charters
Towers and is considered to have potential to host both in situ and drainage
channel, roll front uranium occurrences.
Mantle will now finalise and proceed to implement its exploration programme for
the tenement, in the context that three of its four uranium tenement applications
in Queensland have now been granted, and a properly managed and integrated
exploration effort will now be implemented.
An important related positive note is that the Premier of Queensland, Peter
Beattie, has been reported as stating that he now supports the development of
uranium mining in Queensland on the condition that it is only sold to countries
that have signed the non-proliferation treaty.
Managing director, Stephen de Belle, said “These are two important milestones–
firstly, allowing us to get on with the uranium exploration activity outlined in our
prospectus and, secondly, allowing us to be more confident of being able to
attribute real value to positive exploration results, without the policy caveat that
has been applicable to date.”

MNM is currently re-rating but still significant upside.

Lots of drilling, resource upgrades and positive news flow to come.

[steve fleming]

About $3.5 million cash as well - MNM is an absolute bargain.

[tommy]

MNM up a whopping 42% to 25c today, MNMO up 66% to 9.5c after today's announcement:

http://www.stocknessmonster.com/news...E=ASX&N=405431

I unfortunately missed the rise, but now that MNM hit MNMO exercise price of 25c, things should get interesting. Will the massive volumes continue? Is this another potential big MAK? Given that they have some areas close to MAK, it might go up further on speculation... worth keeping an eye on this stock on da back of the phosphate boom.

Market cap still around $15 million (I think, correct me if I am wrong).

Anyone made a mozza today?


01 May 2008
Mantle’s Phosphate & Uranium Tenement Exploration


Summary:
Desktop studies by Mantle Mining Corporation Ltd (ASX: MNM) covering four recently granted exploration leases in the Northern Territory have identified a number of targets that are prospective for phosphate and may contain uranium. Fieldwork is scheduled to commence in June 2008.

Mantle’s Barkly Phosphate Tenements
In early 2007 Mantle recognised the emergence of strong commodity price fundamentals for both phosphate rock (fertiliser) and uranium (low carbon intensity energy). The company evaluated a number of areas and made application for four leases strategically located just north of the Barkly Highway.

Application for these leases was made on the basis of their prospectivity for both phosphate and uranium, especially in the potential geological setting known as phosphorites. An example of this type of deposit is the Wonarah Phosphate Deposit, held by MineMakers.

The tenements, EL’s 26018, 26019, 26020 and 26021, are located just to the north-east of the Wonarah Deposit and were granted to Mantle during December 2007 and January 2008, each with a six-year term. Desktop studies on these tenements have commenced and a number of prospective horizons and basement palaeohighs have been identified.

Further work, including analysis of gravity, aeromagnetics and radiometrics, is continuing.
With the dramatic increases in the price of phosphate, from US$50 per tonne just 12 months ago to over US$350 per tonne in the last few weeks, Mantle believes the four large tenements comprising the Barkly Project have the potential to contain significant deposits of phosphate with additional potential for uranium credits.

Mantle wishes to advise the market that the company plans to start field work on these tenements during the dry season commencing June 2008. Reconnaissance mapping and sampling will be undertaken over selected targets identified during the desktop studies. The targets will then be refined by geophysical techniques and some selected target zones will subsequently be drilled by air core or RAB.


About Mantle Mining
Mantle Mining is a dynamic exploration and resource company with a diversified portfolio of tenements and resources, including:

• A large previously-mined coal deposit in far north Queensland
• Two Advanced gold projects in north Queensland
o Great Britain Deposit
o Granite Castle Deposit
• Highly prospective historicallymined gold leases in eastern Victoria
• Highly prospective uranium leases in Queensland
• Highly prospective phosphate and uranium leases in the Northern Territory
(A) Mantle recently acquired Trafford Coal, including the Mount Mulligan
deposit and former mine, near Cairns and is currently negotiating to secure an access agreement as a prerequisite for exploration activities.

(B) Mantle has recently assembled a high quality suite of projects, mostly west of Charters Towers, where the Granite Castle and Great Britain deposits contain combined JORC standard inferred resources of 290,000 ozs of gold, and where second-phase post IPO drilling is in progress.

(C) In eastern Victoria, Mantle has secured highly prospective leases covering a six kilometre gold-anomalous corridor within a major fault structure. Mantle is currently completing its second drilling campaign on these leases.

(D) Mantle has secured two tenements near Julia Creek in western Queensland that are highly prospective for uranium.

(E) In the Northern Territory, Mantle has recently been granted four exploration leases that are highly prospective for both uranium and phosphate. The rapidly escalating demand for fertilizer has placed renewed focus on these leases.

[steve fleming]

MNM up a whopping 42% to 25c today, MNMO up 66% to 9.5c after today's announcement:

http://www.stocknessmonster.com/news...E=ASX&N=405431

I unfortunately missed the rise, but now that MNM hit MNMO exercise price of 25c, things should get interesting. Will the massive volumes continue? Is this another potential big MAK? Given that they have some areas close to MAK, it might go up further on speculation... worth keeping an eye on this stock on da back of the phosphate boom.

Market cap still around $15 million (I think, correct me if I am wrong).

Anyone made a mozza today?

Hold a few from way back, so recovered my losses + some today.

I think market cap is actually less than $15m, so still very good value given its potential.

[tommy]

Well done Steve mate, certainly a lot of hot air surrounding this small cap... MNM is quite diverse for its size, it's quite interesting that no one could care about their coal before its phosphate potential came to light.

[tommy]

MNM up 30%!!! MNMO up 40%!!! I am wetting my pants!!!!

http://bigcharts.marketwatch.com/int...w.x=0&draw.y=0

[COLIN]

MNM up 30%!!! MNMO up 40%!!! I am wetting my pants!!!!

http://bigcharts.marketwatch.com/int...w.x=0&draw.y=0

You must have passed out, Tommy. No comment from you regarding today's further massive leap. Congratulations.
Where is this all going to end? Hopefully not in tears.

[tommy]

Thanx colin, no I haven't passed out but am a bit gutted that I hadn't purchased more... I am 50% invested in the market but not quite confortable to extend that any further yet.

Chart:
http://bigcharts.marketwatch.com/int...x=54&draw.y=17

Anyway, MNMO has been a great predictable trade due to its leverage.

I have been collecting profits along the way though, every time it goes up more than 20% per day I religiously take profits, so as to avoid "tear" scenario, hehehe... This way I never make a loss (although sometimes shaves a bit off further potential gains... but hey, never good to be too greedy!)

I think MNM & MNMO will be a great stock to trade in the months ahead considering the hype surrounding potash/phosophate prospects!!