Gold Juniors

[Bobcat.]

I've come back in on GOR this morning, ready to surf this baby onward and upward.

Daytr - still holding your two-thirds?

Also, PRU's financial update looks good - just released this morning - no debt, 8% ROE, $45m cash, operational improvements, all-in cash costs of $1150USD means even if POG drops another $100 they are still making a profit. This morning I've bought a few more. Don't be surprised if FP and other analysts give it a big rap sometime soon.

BC

[Daytr]

BC, just a 3rd I offloaded the other 3rd that same day, so averaged 11c sale. Have loaded up now, holding, GOR, MYG, SOC & have one more fill to be done then I'll be fully positioned.

[JBmurc]

Good rebound from OGC from a 1.32 low yesterday to 1.39 high so far today

[JBmurc]

BC, just a 3rd I offloaded the other 3rd that same day, so averaged 11c sale. Have loaded up now, holding, GOR, MYG, SOC & have one more fill to be done then I'll be fully positioned.

Whats up with the investment in Only PM Explorers ?? I understand like the whole PM sector they are very out of favour ..and on good drill results may spike for a quick trade ....But as they mostly only survive on the cash of S/H's pockets or high cost finance which I couldn't image to be easy to get these days as even producers are bending over for every dollar>> really think for the bulk of PM explorers selling discovery,Toll-treatment ,takeover by nearby producer etc being the best outcome to survive this Bear trend...

Great read round the PM sector going forward-(some 600 jnr explorers with less than 200k in the bank)
https://www.explorationinsights.com/...asp?relid=2937


Don't get me wrong buying cheap producers aren't also a easy trade (hold PGI,CVR so I know all about smashed SP producers)

[Daytr]

So how's everyone positioned? I'm fully invested. Loaded up on GOR, also have a chunk of MYG & SOC. Missed out on CAS, got greedy on entry point & now kicking myself! Think its going to be a great end of year! Good luck everyone!

[Bobcat.]

I'm loaded up and watching for the PoG's reaction to tomorrow night's US economic data (1st lot since the shutdown). If data is lousy, and Equity markets get nervous, expect another spike.

[Bobcat.]

Daytr - looks like I came in too early again on GOR (market has not taken kindly to its latest report wherein it states management are still deferring its pre-feasibility study awaiting an adjustment to underground contract mining costs and an end to the 'market flux').

But when I noticed you were buying MYG, I had a brief look at it before getting a few yesterday at 3.2c. Here's what Reuters are saying from its annual report:

BRIEF: For the fiscal year ended 30 June 2013, Mutiny Gold Limited revenues increased from A$355K to A$12.1M. Net income totaled A$6.1M vs. 2012 loss of A$3.4M. Revenues reflect Gullewa segment increase from A$10K to A$11.9M. Net Income reflects Consulting expense decrease of 39% to A$604K (expense), Impairment of exploration & evaluation a decrease from A$36K (expense) to A$0K.

They have achieved their first profit since listing, and as reported last Wednesday, they have completed a definitive feasibility study on their Deflector Gold Copper project (high grade at 6.4 g/t, very low cost at $USD574/oz !!). Production start up costs are only $62m. 2nd phase ramp up is expected to produce 150,000 oz with an exploration target of 1.6m to 3m oz.

They sold their hedging for $12m profit, have reduced debt and operating cost, and expect to be cash-flow positive next year. They claim to have three banks ready to finance as soon as the POG begins again to lift (i.e. this week?)

Am I missing anything pertinent? What else can anyone more familiar with this company and its management tell us? I like the fact that the Board is not waiting until there is a confirmed Bull run on gold before getting their low cost flagship mine underway and producing. They have balls....of course having a low cost mine reduces the risk of ramping up too early...but their timing looks good.

Recommended Buy.

BC

Discl: Holding just a few but will buy more on dips.

[JBmurc]

Surprised your not looking at SOC bobcat... is looking one of the better explorers round with very large targets

[Bobcat.]

Surprised your not looking at SOC bobcat... is looking one of the better explorers round with very large targets

SOC's Hobbs Pipe 1 has 246k oz inferred but grade of 0.75g/t. Do you have their all-in costs?

[JBmurc]

SOC's Hobbs Pipe 1 has 246k oz inferred but grade of 0.75g/t. Do you have their all-in costs?

well worth looking at latest Analyst reports-http://www.sovereigngold.com.au/Broker-Coverage.htm
---they give a great all round rundown on SOC assets....

some piece's from the reports

SOC is exploring one of the most promising gold plays in Australia: Mt Adrah. Hobbs Pipe 1 (650koz Au) could form the centre of a significant gold province (target +3.2Moz Au) with potential for bulk mining. Drilling is in progress on high priority 3D-IP targets.
conceptual Exploration Target for Hobbs Pipe 1 of of 80-104Mt grading 1.23-1.37 g/t for 3.2Moz to 4.6Moz contained gold.


--SOC is Leveraged to combined $21m exploration spend by JV partner SUGEC
(Jiangsu) on Uralla-Rocky River IRGS

-SOC owns 80% of ASX:PMR.

-SOC/Gossan are yet to publish economic studies of a potential gold mining operation at Mt Adrah, but they have discussed some general concepts. The mining method under consideration is open cut to 200m with block or sublevel caving methods extending to a further 500m, potentially with a second stage to +1000m. Consultants (JKTech) have been engaged to evaluate the underground potential.
Mining costs for underground caving vary across the industry, depending on rheology and geometry of various orebodies – but BOEQ estimates that <$A$15/t and possibly <$10/t might be reasonable IF Hobbs Pipe proves suitable for this technique.