Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Jackjc
I've heard through Marcos that you're a fan of Kimber. Any opinion on the warrants? Ever thought of starting a Kimber thread over here? I dont own any Kimber myself but have been thinking about it. Looks like they have a good property.
tf
From the Newmont webpage:
"A high priority will be the discovery or acquisition of low cost gold deposits that can be mined and processed at a total cash cost of less than $140 per ounce for greenfield discoveries and less than $180 per ounce for near mine discoveries."
http://www.newmont.com/en/ourbusiness/exploration/reserves/index.asp
Nothing we didnt know already but good to see never the less.
tf
Gold $370 now. EOM
That makes three of us then.
Waiting for the latest results from Corona.
I started a gng board here #board-1507
tf
From Stockhouse:
Pierre Lassonde (NEM Pres.) has previously stated that the production decision will be made in Feb. NEM presentations on their web page shows MOYDOW/NEM production starting in 2004. Recent drill results have not been released so it is hard to put a price on the company. Expect $20 US for reserves before production decision and $40 US after decision. NEM already owns 1,325,882 shares of MOY (4.9%) as of June 2002. (See NEM web page. Look at Information Handbook 2002, sub-section Newmont Capital.)
I expect announcement either at or just before the Bear Stearns "Captains of Industry" conference in New York on Feb 12.
http://www.stockhouse.ca/bullboards/viewmessage.asp?no=5959064&t=0&all=0&TableID=0
Trading is like a game. I agree with you on that. I wouldnt assume everyone investing here is rich, though. I suppose it depends on what standard you are comparing to. I myself have another $130,000 to pay on my mortgage and I drive a 1984 Volvo wagon, you tell me if you think I'm rich. Still, I agree with you that trading is one thing that lends itself well to aging. I think that experience is the best teacher and I feel like I've had a pretty good education up to now. I've paid my tuition, now I think it's time to start reaping some benefits.
tf
Welcome to the thread.
Yesterdays volume was encouraging. I expect we'll get more results from Holly soon. That will be interesting.
tf
The kicker for me is that the million ounces of reserve were calculated at a gold price of $270. How many more ounces could be added at $360 ??
I can't believe no one follows this sleepy stock. One of these days its going to gap on a news release or take over bid.
tf
Kimber Resources
On the nightly business report radio broadcast (Jan23).
Sounds like they have a good property.
http://www.investorcanada.com/cbr.php
tf
VVC Exploration is doing some drilling nearby and had a nice pop today.
http://ca.finance.yahoo.com/q?s=VVC.V&d=c&k=c1&a=v&p=s&t=5d&l=on&z=m&...
Might be worth keeping an eye on.
tf
New board on the Botwood Basin: #board-1531
Seemed like a good idea.
tf
New board on the Botwood Basin: #board-1531
Seemed like a good idea.
tf
New board on the Botwood Basin: #board-1531
Seemed like a good idea.
tf
New board on the Botwood Basin: #board-1531
Seemed like a good idea.
tf
Seemed like a good idea since this is an emerging gold camp and there should be lots of exploration news in the coming year. Companies exploring the area include
Altius Minerals (ALS) #board-1493
Candente Resources (DNT) #board-1373
Moydow Mines (MOY) #board-1502
tf
longjon, you forgot to say
WE'RE GONNA BE RICH!!!!!!!!!!!!!!!!!
Okay, maybe it's too soon for that.
tf
Great news. Once the merger is complete we'll be ready for take off. No loose ends.
Thanks for keeping the thread updated Marcos!
tf
Back over a dollar and good volume. Wonder when we'll get more Holly results?
tf
Added a few more this morning. I'm done buying. Now the hard part will be waiting for news.
tf
Gold over $360 in the after market. Tomorrow should be a good day for gold.
tf
Wow gold really flying now. Briefly spiked up to $359.70 !
tf
Too good actually. I havent quite finished buying for myself and the stock is so thinly traded that it doesnt take very much to move it. It was all I could do to get a partial fill today. There was $1.00 on the ask at one point. Should have bought more in the 60's when I had the chance but isnt that the way it always is? Won't matter though. If there's a buyout I'll be dissapointed with anything less than a double from here and a triple is more likely.
Still hold lots of NGT though. I only sold a little bit today.
tf
Sold a few NGT to buy a few MOY. Both great stories but different time lines? We'll I hope it works out that way but you never know.
I'm guessing NGT and AAS will sit in their current range until the merger. Unless of course gold does something crazy but thats the big question eh?
Too bad about that 1000th post. Such a waste.
tf
News off of minesite.com
(This is a well-known, major site for the London gold community)
Date : January 21, 2003
Newmont Moves Towards Production On Ghanaian Joint venture With Moydow Mines.
Good news for Moydow Mines International, the Canadian listed explorer run out of Dublin and with its assets in Ghana and Newfoundland. Newmont, now its partner on the Ntotoroso gold project in Ghana since acquiring Normandy Mining last year, is going to develop two mines in Ghana and one of these looks like involving Ntotoroso. So far there has not been a word about this from Newmont, but Kwado Agyei-Darko, the mining minister, has said that representatives of the multinational gold producer have been in Accra finalising plans to invest US$450 million with a view to commencing production in 2006.
The Akim mine will be in the south east of the country, where dispensation is being sought from the Forestry Commission, and the Ahafo mine is on the Yamfo-Sefwi gold belt in central Ghana. And this is where Moydow is involved in the Ntotoroso joint venture. It must be a welcome bit of news for the smaller company as there have been doubts as to whether or not Newmont would want to go ahead with the gold projects in Ghana it inherited from Normandy. According to a spokesman from the company, "Initially we weren't sure it was a place we were interested in working, but as we got on the ground and did more exploration we found it to be very promising.
According to Newmont the Yamfo-Sefwi gold belt contains equity reserves totaling 3,330,000 ounces, and mineralised material not in reserve comprises an additional 60 million tonnes grading 1.74 g/t gold spread over a number of deposits. Exploration prospectivity is said to be excellent with several deposits open along strike and others with grades of more than 6 g/t in zones more than 492 feet deep. Many geochemical soil anomalies remain untested in the belt; the best of which is the 2 kilometre long Adengo anomaly west of the Subenso deposit. Newmont will drill Adengo late this year. The Ntotoroso project is strategically located in the middle of and along strike of the Yamfo-Sefwi belt and will be mined in conjunction with the adjacent Newmont licences.
Moydow is in a 50:50 joint venture with Newmont on this project and a feasibility study was carried out on it early in 2001. At the time, however, it was based in a price of gold of only US$270/oz and at this level reserves of 1.1 million ounces were calculated at a grade of 2.4 g/t,. This study envisaged the joint venture participating in a larger Newmont plant designed to treat ore from the whole gold belt and this was expected to cost US$110 million. The joint venture would have a 25 per cent interest in this so on that basis Moydow would have to find around US$15.5 million as its share of a plant expected to produce gold at a cash cost of US$179/oz with recoveries varying from 92 per cent to 95 per cent
For the feasibility study, only the proven and probable reserves at Zone E were considered. Reserves here are reported by the study as 14 million tonnes at an average grade of 2.36 grams per tonne. The cut off grade used was 1 g/t and the life of mine stripping ratio is 2.7 to 1.. These figures, of course, could now vary considerably under Newmont management and with the gold price some 30 per cent higher. The results should, however, prove favourable to Moydow which needs a bit of luck after the sad saga of the Wassa gold mine in Ghana which Glencar, the operator, failed to turn into a profitable operation.
In addition to Ntotoroso Moydow has some other gold properties in West Africa, but its latest deal is back in North America where it has acquired mineral exploration licences covering more than 140 square kilometres of ground in the heart of the Botwood Basin in Newfoundland. This area of Newfoundland was the focus of a staking rush by several mining companies last year attracted by geological comparisons with the Carlin Trend in Nevada.. The Moydow claims are about 10 to 12 kilometres west of the Mustang Trend property, held by Altius Minerals Corporation, which was recently the subject of an earn-in agreement by Barrick Gold Corporation. . According to Brian Kiernan chief executive of Moydow, " This is an opportunity to be in on the ground floor of a new gold camp in a mining-friendly province. We expect to be conducting initial exploration over the next few months with a view to defining drill targets as soon as possible."
Added a few more this morning. Looks like Loewen is on the buy again today.
tf
Anybody have an opinion on Mustang Minerals YMU?
Rumours all over stockhouse that they have a major discovery on their hands near Timmons.
http://www.geoshares.com/MustangStory.htm
Might be a good one for next week.
tf
I'm guessing the Newmont news is the reason for the increase in trading volume today 170,000 so far.
Maybe now we will get some news from Moydow.
tf
Heads up. Newmont announced today that they intend on investing $450 million on gold mines in Ghana. This would have a direct impact on Moydow Mines (MOY) which is joint ventured with Newmont in Ghana.
MOY is trading at around .70 today. If there is a buyout then it will be at a lot higher price. Multi bagger in my opinion.
Voluntary disclosure, I'm long.
http://biz.yahoo.com/rc/030117/minerals_gold_ghana_2.html
tf
Significant news (IMHO)
Newmont plans $450 mln Ghana gold mines -minister
Friday January 17, 12:34 pm ET
(Adds location of mines, minister says new mines law drafted)
ACCRA, Jan 17 (Reuters) - Newmont Mining (NYSE:NEM - News) plans to invest $450 million in two gold mines in Ghana and hopes to produce 7.5 million ounces, the mining minister said on Friday.
Kwadwo Agyei-Darko told Reuters executives from Newmont finalised agreements this week in the capital Accra and had met President John Kufuor on Tuesday.
"They'll pour their first gold in the first quarter of 2006, but they're investing now towards pre-mining construction activities at the mine site," Agyei-Darko said.
"They expect to produce a total of about 7.5 million ounces from two new mines."
The minister said the mines would be located at Yamfo in central Ghana and at Ntronang in the southeast. He said they would mean 900 new jobs and generate an estimated $1.5 billion for Ghana's economy.
Mining contributes about 45 per cent of Ghana's foreign exchange earnings although investment in new projects has declined in recent years.
Cocoa is the country's other main export.
Agyei-Darko said a new mining law had been drafted to encourage new investment in mines by giving companies assurances for 10 to 15 years.
"It means once you invest, nothing can be varied to the investor's disadvantage for that period," he said.
http://biz.yahoo.com/rc/030117/minerals_gold_ghana_2.html
Just being lazy here, but can someone tell me whether there is still a payment outstanding to PlacerDome/Kennecott on the Salamandra property. Seems to me the payment schedule was tied to the price of gold.
Another related question: How will the new company be fixed for cash once the merger is complete.
Thanks,
tf
Big cross just went through. 700,000 shares or so.
Nice to see the price and volume holding.
tf
Tenke (TNK) was up 20% yesterday on no news. Maybe not a momo play yet but it might be worth keeping an eye on.
tf
New board for Golden Goliath gng.to - #board-1507
tf
Michael, I was aware of that property too but wasnt aware of any change to the political situation.
I guess Tenke is another one to keep an eye on.
tf
Tenke was up 20% today on no news. Anybody follow this company? Looks like they have a large land position in Argentina.
http://ca.finance.yahoo.com/q?s=TNK.TO&d=c&k=c1&a=v&p=s&t=5d&l=on&z=m&am...
La cerveza mas fina
So far drilling results have been less than spectacular.
The story on the website is a compelling one. Now all they need to do is find some metal (ggg).
Currently drilling at Corona:
http://www.goldengoliath.com/news03-01-07.html
Anyone else own this one?
tf
$615,000 Consulting Contract
TSX Symbol:CPT
January 15, 2003
News Release
Capital Alliance Group Subsidiary
Awarded $615,000 Financial Consulting Contract
Capital Alliance Group Inc. (TSX-V:CPT) reports that one of SE Global Equities Corp.’s divisions, SE Global Capital Inc. (”SGC”) has been awarded a six-month contract by a company from the Greater China region to provide management consulting services generating gross revenue of CAD$615,000.
Under the terms of the contract, SGC will assist the client in expanding its businesses to North America and identifying suitable merger or acquisition opportunities in the U.S. In addition, SGC will provide strategic consulting services to the client in connection with its listing on a U.S equities market.
“This consulting contract marks the first step towards building a new revenue stream for the SE Global group of companies,” said group president and chief executive officer Toby Chu. “With the dramatic growth in the Chinese marketplace, a significant number of Asian companies have expressed interest in expanding into the U.S. financial market. SE Global’s strategic position allows us the ability to offer support and financial services to those Asian companies wishing to enter the U.S.”
About SE Global Capital Inc.
SE Global Capital Inc. is a consulting arm of SE Global Equities Corp. that helps companies capitalize on exciting growth and business opportunities between Asia and the United States. SE Global Equities Corp. is a subsidiary of Capital Alliance Group Inc., a diversified investment, operations and management firm with a broad International presence. Founded in 1986 and headquartered in Vancouver, British Columbia, Capital Alliance Group currently has business presence in Canada, the United States, Hong Kong, the People’s Republic of China and Taiwan.
On Behalf of the Board of Directors of Capital Alliance Group Inc.
Toby Chu
President & C.E.O.
I couldnt resist. Added a very few more NGT this morning at .34
tf
Some interesting speculation here that Ashanti may be tied in with a deal between Newmont and Moydow.
http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=18284716
I just found out that this is a Bob Bishop pick. Here is the article:
Finding the top gold stock picker
By: Tim Wood
Posted: 2003/01/13 Mon 15:45 / © Mineweb 1997-2003
NEW YORK -- In the newsletter business, it is exceptionally unusual to find a publisher who maintains a waiting list, more so when the subscriber list is just 500 strong. That discipline remains despite the temptation and capacity to grow the report a hundred times in a gold bull market like this and after picking two of the top three gold stocks in the world last year.
Had you invested $1,000 in Nevsun and Seabridge at the start of the year – companies Bob Bishop’s Gold Mining Stock Report had fingered for profit – you would have gained an additional $17,000 by the end of the year (+858%). In addition, GMSR told clients to go long on Glamis Gold (+214%) and Goldfields (+191%) among some of its best picks.
Bishop told subscribers in February last year that they needed to grit their teeth against the high multiples many gold stocks were carrying. “By any measure, gold stocks are not cheap—but a rising gold price will make them much less so. While the seniors will continue to be reactive to gold price follow-through, my preference would be to spend money farther down the food chain, favoring stocks that have shown much less movement – Nevsun (NSU.T/$0.65), First Point (FPX.CDNX/$0.30), Sultan Minerals (SUL.CDNX/$0.35), and Almaden (AMH.CDNX/$0.40).”
The only one that hasn’t performed particularly well has been Sultan, but it has held its value which is more than can be said for the broader market. Besides, all the other picks more than paid their way, including Wheaton River [WRM] (+139%) named in the same report.
It’s not just a fluke. GMSR previously recommended Nevsun way back in July 1995 at $1.95 and it flew to $17.35 a year later. In the same month of that year, Francisco Gold was added to the lost at $1.85, striding to $36 in February 97 “just before the resource world suffered a personality transplant,” says Bishop.
He has gained a reputation as one of the biggest stock movers in the business, making his endorsements heavily sort after. However, it’s not just another dog-and-pony Public Relations exercise the likes of which we see all too often nowadays. Bishop has no hesitation telling subscribers to sell, guiding them through each opportunity. He’s also unusually forthright about his own interests and makes it clear that he won’t recommend what he is selling
The GMSR also provides a snapshot for how radically gold investments have changed since early 2001 when it was recommending certain stocks: Aber at $14.85, but now worth $30; Almaden at $0.17, now a merger adjusted $0.90; Harmony at $5, now $17; and Gold Fields at $4.21, now $14.33.
When prices had appeared to race too far in early 2002, Bishop coached investors as follows: “Price revisions have been widespread and are perhaps daunting to those just beginning to consider the sector, but in a gold market that continues to advance, these and other share prices seem certain to build on their already impressive gains.”
Bishop, a genial fellow who self-deprecates by saying he has made money on every commodity except gold, remains confident that we’ll see more gains despite lofty valuations. However, he does warn that increasing Internet exposure for particular stocks (not all of it kosher in terms of author’s conflicts of interest) has made the game more interesting because prices and volumes are becoming detached from their fundamentals as the herd takes over. Likewise, the increasing use of technical analysis – thousands of people making decisions based on the same patterns – is driving stocks away from meaningful valuations. Finally, a lot of the momentum is second and third-hand, with newsletter subscribers having gained an advantage of hours and days.
“I saw enough of the self-fulfilling prophecy phenomenon in the last cycle, and hope to be able to continue to find stocks you can buy, not stocks you have to chase,” he tells subscribers in his most recent weekly bulletin.
He recommends that investors make “uncertainty” a watchword: “the more the word comes to mind, the more you should be thinking of taking money off the table it is lying upon. We’re facing a volatile future, and while I don’t think you should take an unserious view of all companies, I think treating some of them more like numbers—to be bought low and sold high—will keep things impersonal enough to assure that you have substantial profits to show for the current cycle.”
Nevertheless, he also notes that some people are being over-cautious in treating the present run in gold stocks, already well into its third year, as the very last one. That may have more than a little to do with age – those with memories and money in the 1980 spike in the gold price are getting rather long in the tooth.
Among Bishop’s recent stock picks are Wheaton River and Western Copper which have already gained significantly since word got out.
http://www.mips1.net/mggold.nsf/Current/4225685F0043D1B28525...