Gold Juniors

[JBmurc]

More positive news for AMG with the JORC out today.

https://www.asx.com.au/asxpdf/202006...qylgfyfg5f.pdf

Highlights:
• Maiden Mineral Resource Estimate has been defined within the Mt Freda Complex for a total
of 1.7 Mt at 2.06 g/t Au, containing 113,000 Oz of Gold
• The JORC Resource has been estimated over the following Ausmex Cloncurry Gold projects:
o Mt Freda Open Cut Gold Mine (Granted Mining Leases)
o Golden Mile ML100201 mines Falcon, Shamrock, Comstock and Little Duke
• The Mineral Resource estimate highlights that gold mineralisation extends from surface, with
the potential to develop a multi-pit gold mining hub at Cloncurry, targeting gold ore processed
via third party CIP processing facilities utilizing current haul road infrastructure in place.
• Previous cyanide leach test work for gold completed by Amdel for QMC in 2012 using Mt
Freda ore produced high yields above 90%. The previous operator of Mt Freda, Diversified
Mineral Resources reported CIP recoveries of up to 95% for gold.
• The Company has a binding agreement where all ore produced from the Golden Mile must be
processed at the Round Oak Minerals Limited Great Australia Mine 600 ktpa ore processing
facility in Cloncurry.
• The Mineral Resource estimate for the Mt Freda Pit has additional upside as numerous
historical high-grade gold drill holes did not meet the JORC (2012) reporting requirements and
were not used in the estimate.
• The Company is now focused on completing current scoping studies for the Mt Freda Complex
to assess mining and processing options available in Cloncurry.
• The Company is focusing on near term gold production to fund additional drilling to upgrade
and potentially extend known mineralisation.
• A second Mining Lease application will be submitted for the Little Duke gold resource,
cementing the region as a central mining hub.
• The Company has a strong cash position to advance the Complex following the sale of the
Gilded Rose Gold project for $4 million. (Refer ASX release 25th May 2020)

Market didn't warm to it ... but looks to me like a nice wee project to get $20mill+ free cashflows to fund much larger exploration projects

[JBmurc]

I think the fact that AMG was taking up a much larger 20Mt resource awhile ago in mining articles around Gold production didn't help ....AMG's reporting has been very vague and not meeting timelines constantly hasn't given much trust to the market ... I personally wish I sold out last week when the SP was over 4.5c and just taken the loss as I see HMX to be the far superior risk reward with class mgmt. for the same Market Cap at present .... Only reason I've held on while the SP has downtrended was the great assets AMG held ....but Mgmt are doing my head in ..might well ring and make my mind up if I'll continue to hold much longer

[Joshuatree]

Forgot to post, bought some ERX on 8/5/ @ 5.8c and PRU takeover 3/6 .1 PRU share for every 12.9 EXR shares.Implies a 10.5c share value on take-over date.

AOP:Agrees Terms for $7M Divestment of Northern CdI

Perseus Mining to acquire 100% of Exore Resources

[Ninefingers]

I think the fact that AMG was taking up a much larger 20Mt resource awhile ago in mining articles around Gold production didn't help ....AMG's reporting has been very vague and not meeting timelines constantly hasn't given much trust to the market ... I personally wish I sold out last week when the SP was over 4.5c and just taken the loss as I see HMX to be the far superior risk reward with class mgmt. for the same Market Cap at present .... Only reason I've held on while the SP has downtrended was the great assets AMG held ....but Mgmt are doing my head in ..might well ring and make my mind up if I'll continue to hold much longer

Hard to fathom exactly what is going on at the moment at AMG with the reshuffle. I do like the mgmt and release clarity at HMX so maybe time to cut losses and go HMX

[Aaron]

If this isn't fake news then goldman likes gold. Debasement fears hard to see how it isn't outright panic with the amount of QE going on.

https://www.zerohedge.com/commoditie...basement-fears

Judging by the jump yesterday RMS announcement has been well received by the market.