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  1. #21
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    Quote Originally Posted by evilroyrule View Post
    anyone still following this? resource wise seems to be huge, but everytime a coconut, just days after good announcement, sp wanders back down to where it was??? any ideas why??
    I took a loss on this one last week (only a small one though), mainly out of impatience. I've heard that there'll probably be a capital raising and didn't really want to get caught up in it, I really have sold when it spiked at around 19cents.

  2. #22
    ? steve fleming's Avatar
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    Big drilling campaign commencing this month, to enable the calculation of a possible multi million ounce resource.

    Latest research:
    http://www.eleckramines.com.au/repor...eMarch2010.pdf
    http://www.eleckramines.com.au/reports/EKM_1Q102.pdf

    Per Peter Strachan:

    ""Eleckra's drilling programme in April/May 2010 holds potential to outline new,high grade gold mineralisation at the Hann prospect,adjacent to known gold Resources,while extending high grade gold mineralisation at the Central Bore Discovery.
    Success is likely to have a significant impact to the value of EKM shares".

    Exciting times!
    Share prices follow earnings....buy EPS growth!!



  3. #23
    ? steve fleming's Avatar
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    April 19, 2010

    Eleckra Mines Hopes To Open Up The Yamarna District As The Fourth Major Gold Belt In Western Australia.

    By Nadia Cavallaro / www.minesite.com

    The Yamarna greenstone belt may become Western Australia's fourth major prospective gold region if Eleckra Mines' preliminary exploration is anything to go by. The company has recently restarted drilling on its Yamarna Gold Project, which already boasts a 749,000 ounce resource based on work done back before the financial crisis took hold. That total ought just to be the start, though. Eleckra executive chairman Ian Murray is convinced the company is sitting on more high-grade deposits.

    "The Yamarna greenstone belt is a very prospective area - it has the potential to become the fourth major gold belt in Western Australia," he told Minesite. "We have discovered in the last twelve months an accumulation of high-grade potential at Central Bore. We have drilled down to 150 metres and hit grades of up to 182 grams per tonne". Grades like that arent to be sniffed at.

    Drilling is now taking place at the Hann, Burzantium and Central Bore East prospects on Eleckra's Yamarna ground. Unlike other parts of Western Australia, the Yamarna belt is relatively untouched due its remote location. Yamarna is 140 kilometres east of Laverton, a town which itself is around 1,000 kilometres from the state's capital city of Perth.

    "Exploration has only been undertaken in the last 15 years, with only serious exploration in the last two years," Murray said. While historically, the thinking has been that the Yamarna greenstone belt holds large tonnages at low grades, Murray is out to prove this notion wrong.

    "There will be two months of drilling of a total of 7,000 metres and we will follow up on what we find in the second half of the year," Murray said, adding that drilling could top 25,000 metres for the year. "There is a bend in the shear zone, and geologists were excited to see this, so it prompted us to look off the shear zone where we hit high-grade deposits at Central Bore," he explained.

    The company expects to achieve around 500,000 ounces of high-grade metal in the initial resource at Central Bore, which would then justify further development. Eleckra will spend A$3 million on the drilling program over the next 12 months, but once this is complete, it will need to raise capital to fund further work. "We will have to do some capital raising at some stage but once we have our drilling results," Murray said.

    "Exploration costs are low in comparison to other exploration areas," Murray noted. "There is road infrastructure, telecommunications and accommodation out there. We can get drill rigs anywhere we need them".

    While the company's peers have been indulging in a spot of M&A activity recently, Eleckra is happy to take an outside view. "Our main focus is exploration at the site - we don't want to get into a bidding war in acquiring another project," Murray said. Having said that, though, when drilling results are finalised, Murray expects to see heightened interest in the Yamarna project itself.

    "There is no doubt that with our high-grade resources we will have mid-tier to majors knocking on our door," he said. "We are open to hear proposals but we would like to go into production on our own".

    How that will be done is a long way from certain yet. The company has yet to decide whether to truck material to an established plant in Laverton, or whether instead to build its own extraction facility.

    Either way, the wider context remains favourable. When other metals prices fell drastically during the global financial crises, gold managed to surge. The precious metal has consolidated well, above the US$1,100 level recently. That compares very favourably with the prices of November 2008 when gold was trading at US$725 per ounce.

    "The traditional story of a safe haven remains," Murray said, adding that he's expecting to see gold make further gains this year. "The gold market is doing very well, particularly out of Europe where there is a lot of investment in gold juniors," he said. "South African gold production is down and gold discoveries are further apart. Gold production is falling short of demand and for this reason I believe the price will certainly go higher," he said.

    Eleckra also has a uranium tenement in the area but it's not yet a priority for the Perth-based company. "It's an asset that is not going to go away". But for now, its not the top priority. "We are focused on gold," Murray said.
    Share prices follow earnings....buy EPS growth!!



  4. #24
    SRV is a God STRAT's Avatar
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    For those fond of trend lines ( like me ) this one is worth watching close over the next few days/week I reckon. Some early signs of life from some indicators like RSI and OBV.
    I love charts like this where a turn looks possible after a spell going in the wrong direction. Although the low was back in Feb it has continued to look weaker through March and April till nowish.

    The Steve F Factor should no be underestimated either :lol:

    Havent put my money where my mouth is though :scared:
    Last edited by STRAT; 20-04-2010 at 04:42 PM.

  5. #25
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    Dont be scared Strat..EKM is a good long term stock. The resource, depth of resource and concentrations are loverly...

  6. #26
    SRV is a God STRAT's Avatar
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    Quote Originally Posted by Aotea View Post
    Dont be scared Strat..EKM is a good long term stock. The resource, depth of resource and concentrations are loverly...
    lol Aotea. Dont know what went wrong with the smilies in that post I thought that scared was an eek.

    Its only a long term stock after youve held it for a long timeI reckon

  7. #27
    ? steve fleming's Avatar
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    I managed to attend the EKM presentation at the RIU Resources Conference today.

    EKM geniunely beleive that Yamarna will host Australia's next multi-million ounce gold field.

    Results yesterday of bonanza grade gold values of up to 404g/t are pretty amazing - but it is a thin vein.

    Still drilling Central Bore, but there are numerous other high grade anomalies (Hann and Byzantium in particular) that will be followed up in the coming months.

    Golden Sands, the 1500sqm tenement 25kms north of Tropicana (IGO/Anglogold) hasn't even been touched yet.

    EKMs market cap of $20m for a potential multi-million ounce gold discovery (ie multi billion dollar resource) sounds pretty good to me!
    Share prices follow earnings....buy EPS growth!!



  8. #28
    ? steve fleming's Avatar
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    Quote Originally Posted by steve fleming View Post
    I managed to attend the EKM presentation at the RIU Resources Conference today.

    EKM geniunely beleive that Yamarna will host Australia's next multi-million ounce gold field.

    Results yesterday of bonanza grade gold values of up to 404g/t are pretty amazing - but it is a thin vein.

    Still drilling Central Bore, but there are numerous other high grade anomalies (Hann and Byzantium in particular) that will be followed up in the coming months.

    Golden Sands, the 1500sqm tenement 25kms north of Tropicana (IGO/Anglogold) hasn't even been touched yet.

    EKMs market cap of $20m for a potential multi-million ounce gold discovery (ie multi billion dollar resource) sounds pretty good to me!
    EKM story keeps on getting better and better....

    from the update today...."Given the many soil targets similar to the
    Central Bore surface expression it is possible that we have only intercepted a tip of one of the many “Ice
    Bergs” that may exist in our Yamarna project
    . The combination of the continued high-grade results, the
    strike length and depth extension, the gold recovery and gravity separation testworks, the maiden resource
    determination and the high-level economic modelling we are undertaking, is pushing us rapidly along a
    development decision path"
    Share prices follow earnings....buy EPS growth!!



  9. #29
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by steve fleming View Post
    I managed to attend the EKM presentation at the RIU Resources Conference today.

    EKM geniunely beleive that Yamarna will host Australia's next multi-million ounce gold field.

    Results yesterday of bonanza grade gold values of up to 404g/t are pretty amazing - but it is a thin vein.

    Still drilling Central Bore, but there are numerous other high grade anomalies (Hann and Byzantium in particular) that will be followed up in the coming months.

    Golden Sands, the 1500sqm tenement 25kms north of Tropicana (IGO/Anglogold) hasn't even been touched yet.

    EKMs market cap of $20m for a potential multi-million ounce gold discovery (ie multi billion dollar resource) sounds pretty good to me!
    IGO had some good results in the north part of their Tropicana discovery I'm sadly invested in CVX that have done jack all since the two goldies merged to form CVX they hold a large portion of the land south of Tropicana..
    Any Idea of EKM cash balance (one thing CVX has a load of CASH)might be worth jumping ship if they keep the good results coming
    "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. #30
    Advanced Member airedale's Avatar
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    I have got this one on my watch list. The July 12th newsletter from oilbarrel.com gave it a write up.

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