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Thread: Gold Juniors

  1. #541
    FEAR n GREED JBmurc's Avatar
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    "Breakaway Research rates Carnavale Resources as a "speculative buy", with short-term price movers being positive results from the imminent drilling. "Carnavale is commencing drilling on shear hosted poly-metallic targets at their Red Hills Project, where they are earning up to 75 per cent through an earn-in agreement. The Project is located in Nevada, a well-known and relatively mining friendly jurisdiction. Sampling and mapping by Carnavale over historic workings has confirmed the high grade nature of the mineralisation, and a mid-point exploration target (100 per cent basis) of 12Mt has been estimated over the two targets. Our calculations indicate a zinc equivalent grade of around 22 per cent based on the recent sampling. Red Hills is also prospective for Carlin-style mineralisation – soil sampling at Viper has returned a Carlin-style geochemical signature, and is situated in a similar structural and lithological setting as that for both the Kinsey and multimillion ounce Long Canyon deposits located to the north."

    http://www.afr.com/markets/equity-m....0150726-gijpx1
    "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

  2. #542
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    SOC back on your radars JB/daytr?

  3. #543
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    They haven't been Clip. I did see the recent announcements though. Interesting & might be worth a speculative punt considering the market valuation.
    Hopefully you find my posts helpful, but in no way should they be construed as advice. Make your own decision.

  4. #544
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    Yes old SOC might get some spec traders funds ...not sure if I could hold again ...
    "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

  5. #545
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    Picked up a few CAV today for .026. First trade in 18 months, been scared off the resource sector of late but do like the look of this little play, current drill looks promising.
    "Gold is money, everything else is credit"- J.P. Morgan

  6. #546
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    Yes will be doing the same and double my CAV holding at these levels ...pure spec play
    "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

  7. #547
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    AFR Online article by Trevor Hoey

    byTrevor Hoey
    After plunging sharply from about 2500 points at the start of July to 2170 points at the end of the month, the S&P/ASX 200 Gold index continued to plummet in the first week of August, at one stage dipping below 2100 points.
    Ironically, it was a small Victorian-based gold mining group in A1 Consolidated Gold that bucked the trend as the rout continued in August. Its shares increased more than 30 per cent between July 31 and August 5, returning to pre-crash levels.
    Even more impressive were the volumes under which this rerating occurred.
    More shares were traded in the first three days of the week commencing Monday, August 3 than in any other full week since the company listed on the ASX in June 2012.

    Aside from the levels of outperformance and the records set, A1 is an interesting story. From the characters behind the group through to the history of the mine and onto the all-important project economics, the company doesn't just make for a good read it also has real investment potential.
    In terms of backing, Andrew Forrest's private investment company Squadron Resources has tipped in $2 million by way of a convertible note which, if converted, would equate to a shareholding of nearly 14 per cent.
    Management's interests are closely aligned with those of shareholders with chief executive Dennis Clark having a 10 per cent stake in the company.
    He is very much a traditionalist, with the A1 gold mine his virtual office. He worked on the A1 mine in the 1980s and 1990s when it yielded 600,000 ounces at 25 grams per tonne. Clarke is keen to bring the project into production on a small scale basis as quickly as possible in order to commence paying dividends.


    The deposit continues to return extremely high grades. While face chips from a highly mineralised narrow quartz vein grading 12,000 grams per tonne came from early-stage exploration activity, it could be a pointer as to what lies ahead of the drill bit.
    This was part of the newsflow behind the recent share price surge.
    The other contributing factor was the circa $5 million acquisition of the Maldon Gold operation which included a fully operational 150,000 tonnes per annum gold processing facility. There are two operating underground mines at Maldon, but the real game changer was the nominal consideration paid for the mill which management estimates would have a replacement cost of $15 million. As at July 31, 2015 A1 had already generated nearly $1 million from processing stockpiled ore at Maldon.
    Towards the end of July, the trucking of ore from the A1 mine to the Maldon processing plant commenced and it is expected that combined production for 2015-16 will be in the order of 20,000 ounces, stepping up to at least 30,000 ounces in 2016 and beyond.

    Analysts at Patersons said based on this production and all in sustaining costs of $849 per ounce, there is the potential for a margin of between $600 and $700 per ounce which over a 2 ½ year mine life should generate annualised earnings before interest, tax, depreciation and amortisation of approximately $25 million.
    However, Patersons believes there is scope for significant exploration upside which would materially extend the mine life.
    Analyst, Simon Tonkin said: "Conceptually, A1 has the opportunity to emerge over the next 1 to 2 years as a 50,000 to 60,000 ounces per annum gold producer".
    He has a speculative buy recommendation on the stock with a 12-month price target of 7c, representing a substantial premium to the group's recent trading rang


    Disc -Holding ORS that if they exercised all their opts would own near 50% of AYC
    "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

  8. #548
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    Resources Editor
    Melbourne
    Billionaires have sleepless nights worrying about wealth preservation, poor things.
    “Spread the risk” is the best advice for them. And that is exactly what two of our own have done, albeit in a very small way, but in Victorian gold no less.
    First there is Gina Rinehart bankrolling a joint venture with ASX-listed Catalyst (CYL) in the hunt for a “new Bendigo’’ goldfield at the Four Eagles gold project area, 70km north of the “old’’ 22 million ounce Bendigo. Some decent hits of late suggest the joint venture is on to something.
    But today’s interest is in another iron ore mogul, Fortescue’s Andrew “Twiggy’’ Forrest. His family interests have pumped $2m into ASX-listed A1 Consolidated Gold (AYC) through a convertible note, giving him a grip on 14 per cent of the company.
    AYC’s namesake mine is all of two hours’ drive from Melbourne in northeastern Victoria’s high country, and is in the process of being returned to production, adding to a history that stretches back to the 1860s.
    An adviser to Twiggy on his personal mining interests, geologist John Clout, ran his seasoned eyes over A1 ahead of the investment and it has to be assumed that AYC’s revitalisation plans got his tick of approval.
    Twiggy was introduced to the investment opportunity by the broker Patersons, which coincidentally yesterday issued a research note on the company, rating the stock as a speculative “buy’’ with a target price of 7c. It was trading yesterday at 5.3c.
    Patersons reckons that over the next 12 to 24 months, AYC has the potential to emerge as a 50,000-60,000 ounce gold producer, underpinned by high-grade ore from A1 being trucked 320km to Maldon in Victoria’s golden triangle for treatment in an existing treatment plant, one picked up by AYC from Ian Gandel’s Octaganol Resources (ORS) in a scrip deal which makes Octaganol the biggest AYC shareholder with a 38 per cent stake.
    AYC’s initial plans are a more modest and more doable 30,000 ounces a year from the A1 alone — the Union Hill mine at Maldon could kick in later — at an all-in sustaining cost of less than $850 an ounce.
    If that were happening now, AYC would be bagging a margin of $670 an ounce. Spread that across 30,000 annual ounces, and you’re talking about $20m, which is kind of interesting for a company valued yesterday at about $24m. The key to it all is the high-grade and good mining-shaped stockwork-type mineralisation at the A1, rather than the narrow quartz vein stuff normally associated with Victorian gold.
    The man in charge of making it all happen is AYC managing director Dennis Clark, a mining contractor for the last 25 years. He has 40 years of underground mining experience, including time as mine manager at the A1 under previous owners.
    He owns about 10 per cent of AYC and runs a tight ship. AYC’s head office is split between the mine site and his NSW home, and typical of a mining contractor’s approach, the on-hold music playing on the mine site’s phone is a Johann Strauss waltz because no one knows how to change it to something else, and because no one is going to be paid for advice on it either.
    Patersons in its research note says AYC is now in a proof-of-concept phase. “However, with this proof expected over the next three months, the focus will become how much cash the company might generate and what it might do with it,’’ Patersons said.
    On that score, the first gold bar produced from a trial parcel of A1 ore at the Maldon treatment plant is not far off. Twiggy, down to his last $2 billion because of the iron ore price collapse, and what now passes for a Victorian gold industry, will be cheering Clark and AYC on.
    "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

  9. #549
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    Resources Editor
    Melbourne
    Billionaires have sleepless nights worrying about wealth preservation, poor things.
    “Spread the risk” is the best advice for them. And that is exactly what two of our own have done, albeit in a very small way, but in Victorian gold no less.
    First there is Gina Rinehart bankrolling a joint venture with ASX-listed Catalyst (CYL) in the hunt for a “new Bendigo’’ goldfield at the Four Eagles gold project area, 70km north of the “old’’ 22 million ounce Bendigo. Some decent hits of late suggest the joint venture is on to something.
    But today’s interest is in another iron ore mogul, Fortescue’s Andrew “Twiggy’’ Forrest. His family interests have pumped $2m into ASX-listed A1 Consolidated Gold (AYC) through a convertible note, giving him a grip on 14 per cent of the company.
    AYC’s namesake mine is all of two hours’ drive from Melbourne in northeastern Victoria’s high country, and is in the process of being returned to production, adding to a history that stretches back to the 1860s.
    An adviser to Twiggy on his personal mining interests, geologist John Clout, ran his seasoned eyes over A1 ahead of the investment and it has to be assumed that AYC’s revitalisation plans got his tick of approval.
    Twiggy was introduced to the investment opportunity by the broker Patersons, which coincidentally yesterday issued a research note on the company, rating the stock as a speculative “buy’’ with a target price of 7c. It was trading yesterday at 5.3c.
    Patersons reckons that over the next 12 to 24 months, AYC has the potential to emerge as a 50,000-60,000 ounce gold producer, underpinned by high-grade ore from A1 being trucked 320km to Maldon in Victoria’s golden triangle for treatment in an existing treatment plant, one picked up by AYC from Ian Gandel’s Octaganol Resources (ORS) in a scrip deal which makes Octaganol the biggest AYC shareholder with a 38 per cent stake.
    AYC’s initial plans are a more modest and more doable 30,000 ounces a year from the A1 alone — the Union Hill mine at Maldon could kick in later — at an all-in sustaining cost of less than $850 an ounce.
    If that were happening now, AYC would be bagging a margin of $670 an ounce. Spread that across 30,000 annual ounces, and you’re talking about $20m, which is kind of interesting for a company valued yesterday at about $24m. The key to it all is the high-grade and good mining-shaped stockwork-type mineralisation at the A1, rather than the narrow quartz vein stuff normally associated with Victorian gold.
    The man in charge of making it all happen is AYC managing director Dennis Clark, a mining contractor for the last 25 years. He has 40 years of underground mining experience, including time as mine manager at the A1 under previous owners.
    He owns about 10 per cent of AYC and runs a tight ship. AYC’s head office is split between the mine site and his NSW home, and typical of a mining contractor’s approach, the on-hold music playing on the mine site’s phone is a Johann Strauss waltz because no one knows how to change it to something else, and because no one is going to be paid for advice on it either.
    Patersons in its research note says AYC is now in a proof-of-concept phase. “However, with this proof expected over the next three months, the focus will become how much cash the company might generate and what it might do with it,’’ Patersons said.
    On that score, the first gold bar produced from a trial parcel of A1 ore at the Maldon treatment plant is not far off. Twiggy, down to his last $2 billion because of the iron ore price collapse, and what now passes for a Victorian gold industry, will be cheering Clark and AYC on.
    "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. #550
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    Getting pissed of with the nil to low volumes getting traded in some of these Jnr-micro cap goldies was hoping there might have been a few more nevious holders wanting out ......
    "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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