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Well I think they are really a gold price play more than most as they have the gold already mined. Shame they had to hedge 1/3rd at $1320 as I think gold will be a lot higher. They definitely have upside imo, but I don't think as much as some others who are spending all their money on exploration.
Originally Posted by JBmurc
Whats Your view on PGI Daytr?
main issues I think the Market see's is in country risk and reserves ....
with round 6 more years of reserves to be process at Las Lagunas... PGI long term driver could well be the results from the drilling program in the Dominican Republic... with very high grade Cu.Au.Ag in grab samples I'm looking forward to the drill program to start ....also of course another large Tailings deposit would also work esp in another country would diverse the risk ....must be Moz of gold tailings round the world
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Originally Posted by Daytr
Well I think they are really a gold price play more than most as they have the gold already mined. Shame they had to hedge 1/3rd at $1320 as I think gold will be a lot higher. They definitely have upside imo, but I don't think as much as some others who are spending all their money on exploration.
Yes others like PXG may have more upside percent wise but more start-up risks lower grades etc then you also have the fact many miners are finding Aussie a very high cost place to do business ...
-I brought into CVR because of thought a producer with 1.2moz resource with a market value not much more than plant cost soon to be producer with lower cost structure unhedged,exploration upside.. was a great high growth play (hindsight wish I just brought more PGI)
After CVR rubbish I now rate mgmt. much higher up the list for importance when it comes to these higher risk jnrs ....in PGI case they have "Brain Johnson" in control.... his past history includes taking Nevada Goldfields Limited, Austral Coal Limited, and both Portman Mining Limited and Mount Gibson Iron Limited from conceptual stage to Profitable miners ....
Also on the production PGI plan is for 63koz Gold p.a hedged fully first year then second-third year half hedged (if Gold is much higher that hedge price) and some 600koz Silver p.a is Unhedged ....I also think PM prices will be much higher years ahead....Overall I'm happy with hedge set-up as I know they wouldn't have got the plant loan without it...and really as long as they can keep the costs to plan are going make a enough to drill many holes or buy more tailings within a short time frame I could see PGI reserves doubling..
The Albion Plant cost PGI some 100mill so find the 70mill value still much too light at this stage now that they have announced Recoveries of gold from both the flotation circuits and the CIL circuit are within 7% of target and trending upward. Recoveries of silver from the flotation circuit are within 4% of target and exceeding target from the CIL circuit....
Brought more PGI today
Last edited by JBmurc; 20-08-2013 at 12:02 AM.
"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
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Yes with PGI being the First Mover Globally in using the Albion Process for Gold i think there will be a lot of int once PGI are producing at nameplate and alot of opps Globally and maybe even close enough to the current plant as well.. The first mover Advantage will finally show itself and most of the arrows (teething probs) have now been pulled out of the back of this (PGI) pioneer.
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Originally Posted by Daytr
I would be interested to understand what you see in NTL? Very low market cap but doesn't really seem to be that much going on. I must admit I'm not a big fan of mining in NZ generally. Too much political risk & too environmentally sensitive, especially when compared with Australia.
Its still in its very early stages, so for me its an opportunity to be in a mine from the beginning. Good thing with this mine is that a majority of the tunneling is already existing, so there (theoretically) shouldn't be any political worries due to environment concerns.
You say not much is going on, but in the last announcement they were talking about procuring machinery and such. For a small company that is quite fast, but I get your point. Always has to be kept in context that, like you said, its a tiny company.
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Good points JBmurc re risk / reward its almost like a royalty stream. Thanks for those contributing it certainly helps me look at different angles etc I picked up some GOR yesterday with the price dip in gold & I now like the spread I have in juniors.
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Good to see PXG & GOR have a nice run today, seem to be gathering momentum
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Nice little announcement from MYG on their iron ore resource. With very little capex this could be a nice little earner for them while they look to finance their copper/gold deposit Deflector.
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forgot to mention CAS Crusader (i hold)
126 mill shares
mkt cap $27 million !!!!
Directors hold 15%
Reserve of 1.61 mill oz (1.18g/t)Gold . Total resource 2.43 mill oz @ 1.10g/t.
80,000 m drilled + Completed PFS Final feasibility in progress
Excellent infrastruture
Low cost low govt royalties @1%.
4500 sq km exploration area 100% owned
PLUS
Iron Ore now producing @ nameplate
Jorc ind 36 M/T @ 43.5% /FE
plus Lump high grade hematite > 64% /Fe
Licenced for 300,000 tones per annum
Awaiting for full mining license, pending.
Iron Ore buyers close by (smelters etc) with sales contracted to them, multiple sales contracts in place.
stripping ratio intial 0.15:1 moving to 0.21:1
Last edited by Joshuatree; 23-08-2013 at 03:19 PM.
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Originally Posted by Daytr
Hi Strat, Do they need to find more before they do?
Sorry. Cant answer that question.
All my buys and sells are based on TA only.
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Thanks Joshuatree, its one I hadn't come across. They do look interesting. I like that Macquarie is backing them as well as they don't normally back mugs at an early stage.
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