Gold Juniors

[Joshuatree]

Research note on WCN current price $.009c T/P $.04c
http://wcminerals.com.au/content/upl...n-20160810.pdf

[Aotea]

MKO.... Trading Halt... Stand By

Echo Resources, Metaliko Resources to merge; Breaker upsizes deal

Sarah Thompson
Anthony Macdonald
Joyce Moullakis
Two gold juniors exploring Western Australia's Yandal gold belt are set to announce a tie-up.
Echo Resources and Metaliko Resources both entered trading halts on Wednesday morning ahead of an announcement on a "material transaction".
Sources told Street Talk the companies would merge to combine their respective strengths in the historic gold region and accelerate a return to production.
Renowned prospector Mark Creasy proved the gold prospectively of the Yandal Belt in the mid-1980s, discovering the Jundee and Bronzewing deposits he later sold for $117 million dollars.

Metaliko picked up Bronzewing in 2014 for $4.8 million after the collapse of Navigator Resources.

The two juniors have history. Earlier this year a company controlled by Metaliko managing director Michael Ruane successfully moved to spill the board of Echo. Ruane was on Echo's board from February until May.
Since then, Echo has been fast tracking its Julius gold project, which lies about 75 kilometres north of Bronzewing, towards production.
A merger could see the Bronzewing plant restarted to process ore from Julius.
Elsewhere in mining, Breaker Resources has upsized its raising to $12.5 million.

As revealed by Street Talk on Tuesday, the gold explorer was seeking to raise $10 million at 50¢ a share with the help of Patersons Securities.
It's understood the deal received more than $40 million worth of demand.
Breaker shares have tripled since the start of the month, last trading at around 65¢.

[Joshuatree]

PDF Merger 1 EAR share for every 2.5 MKO

[Stock Rooster]

Values MKO at 8.8 aussie cents??

[Joshuatree]

Hasn't set the mkt alight atp. Buyers @7.1c sellers 7.5c ,no sales.

[Joshuatree]

I was a bit early, 9c atm . Got 8.3c for my last shares.Missed a decent extra gain though.

[JBmurc]

Going from EAR sp works out to at least 10c per MKO ... If the bullseye lease is still to come add another couple of cents at least

[JBmurc]

Quite a laugh when you think about the numbers .....

once merged MKO holders will hold 50.4% of the new merged EAR ... so for giving up 49.6% of our assets- 2.3mtpa plant/Camp worth 80-100mill replacement value / MOU Lease agreement that would have seen upwards of 10mill spent on BZW refurb...plus lease income of many million pa 3yrs+

MKO -JORC resource 521koz 1.8g/t

Now EAR brings to the table JORC resource 325koz 1.6g/t and some great recent drilling results (handy timing?)

You do get the feeling this merger is much to benefit EAR position as a future Gold producer to then be sold to the highest bidder(package the assets together)

in turn really helping EAR major holders with also major MKO holdings ...MR etc

And if MKO was purely being run to benefit S/H driving the bullseye deal along with other toll treatments (own ore) would see a much higher SP to holders than half of the new group ....unless we have a Buyer in the wings wanting the package deal ?

[Joshuatree]

Taken profits on WCN too @ 1c. A sell i forgot id set. Thinking I've sold far too early on this one;still the money is in the tin.

[JBmurc]

NEW HIGH GRADE GOLD
INTERSECTED AT PEYES FARM
HIGHLIGHTS
 Drilling program completed at the 100% owned Peyes Farm prospect, 600m south of
the Teal gold mine and 11km from Kalgoorlie-Boulder1
 Latest drilling returns highly encouraging downhole intercepts up to 34g/t Au
including:
 15m @ 5.00g/t Au from 48m
(including 6m @ 10.89g/t Au from 49m) – PFRC1637
 7m @ 2.58g/t Au from 30m
(including 1m @ 16.00g/t Au from 30m) – PFAC1615
 5m @ 4.03g/t Au from 31m
(including 2m @ 6.14g/t Au from 33m) – PFAC1613
 8m @ 2.60g/t Au from 28m
(including 2m @ 4.85g/t Au from 28m – PFRC1616
 4m @ 3.96g/t Au from 38m
(including 2m @ 7.10g/t Au from 39m – PFRC1617
 Drilling intersected new high grade mineralisation west of the main Peyes Farm
IRC-ASX

Latest drilling from IRC... might buy a few




Shear (PFRC1637) and remains open in all directions
 Follow-up drilling at Peyes Farm and Teal to commence in the December Quarter as
part of an accelerated exploration program across the Company’s tenure in the
Kalgoorlie region
Commenting on the program Intermin’s Managing Director, Mr Jon Price said the Peyes Farm
prospect is showing potential to host very high grade mineralisation with very little modern
exploration along the 4km strike zone in the last 20 years.
“Like Teal, Peyes Farm has produced spectacular results from limited drilling on parallel structures
and confirms the gold system is completely open and occurs in multiple highly mineralised
structures demonstrating potential for significant Resource growth.
As part of our planned accelerated drilling program across all our 100% owned projects in the
Kalgoorlie region, extensions along strike and at depth at both Teal and Peyes Farm will be a key
focus along with our high priority targets on the Zuleika and Bardoc shear zones,” he added