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We now have decent initial results on 2 different properties, the 100% owned Holly project and the Gold Fields joint venture on the Tambor property. On top of this there is the Banderas property that was supposed to have been drilled late last year and the other property which is joint ventured to Pilar. In short, there is lots of news to look forward to in the coming months.
Technically it looks like there will be a lot of resistance between 1.00-1.25 since a lot of shares were traded in this range in the past (look at a two year chart). If the stock can get over 1.25 then it will be above its all time high and should move easier on good news.
We'll see.
tf
ngt and moy
moy could be taken out by Newmont. Interesting story anyway and the stock looks really cheap. Take a look, moy.to - #board-1502
tf
News out on Radius Explorations. New 52 week high as well.
You can find the news here - #board-1449
tf
A new 52 week high and over a $1.00 now. Nice!!
tf
More good news:
News Release 2003-01 January 13, 2003
High Grade Gold Reported from
La Laguna North and Guapinol South Target Areas in Guatemala
Radius Explorations Ltd. is pleased to report that exploration results obtained during the final months of 2002 confirm the presence of high-grade gold values associated with quartz/arsenopyrite bodies at the La Laguna North and Guapinol South target areas within the Tambor Joint Venture ground.
Of the seven project areas targeted for scout drilling by the Joint Venture during 2002, all but one returned gold values in excess of 1g/t. However, assay results vary widely as do deposit types along the 22km trend of mineralized metamorphic rocks currently under evaluation:
Moderate/high grade gold mineralization in quartz lodes (La Laguna North, JNL).
Variable widths of low grade, disseminated gold along structural contacts between amphibolite and phyllite (Lupita).
Narrow, flat lying zones of low grade gold within amphibolite host rocks (Cobano, TBS).
Stockwork/sheeted quartz veinlets in granodiorite (La Laguna South).
Significant highlights from the scout drilling include results from the La Laguna North prospect where a steeply dipping, SW plunging, quartz lode was intersected in holes BVRC-02-002, 0015 and 0017. Hole BVRC-02-002 returned 18.3 metres of 8.2 g/t Au and hole BVRC-02-0015 cut the zone 100 metres down dip, returning 18.3 metres of 12.2 g/t Au. The third hole drilled on section (BVRC-02-0017) returned significant values from two discrete zones (3.1m of 5.6 g/t; 13.7m of 2.2 g/t) contained within a 53 metre interval of strong quartz veining and disseminated arsenopyrite. Mineralization at La Laguna North has now been confirmed over a down-dip interval of 200 metres with the system open in that direction and along strike. Preliminary metallurgical testwork has commenced on composited samples from cuttings, and a follow-up program and budget are in preparation.
A recent development on the property is the discovery of high-grade, quartz vein hosted mineralization associated with abundant visible gold at an area known as Guapinol South. Reconnaissance manual trenching has returned values up to 10.1 metres of 31 g/t Au in trench GP-5 and 8.8 metres of 20.8 g/t in trench GP-9. The potential strike length of the Guapinal South vein system as indicated by surface prospecting is approaching 2,000 metres.
To date, 15 manual trenches have been completed and work continues to expand the vein system both to the west and east. A summary of the trenches in Guapinol South is reported below, results are still pending for some trenches. A budget and program for the drill testing of the Guapinol South project has been approved with road and site preparation to begin immediately.
GUAPINOL SOUTH - TRENCH SUMMARY
Trench
Meters sampled
Sample numbers
No. of samples
Significant mineralized intervals or highest Au values
GP-3
48.38
112972-112999
28
9.28 m @ 5.286 g/t Au, includes 1.0m @ 29.931 g/t Au
GP-4
64.81
115562-115596
35
14.03 m @ 9.517 g/t Au, includes 6.86 m @ 17.805 g/t Au
GP-5
66.96
115597-115631
35
10.08 m @ 31.311 g/t Au
GP-6
69.46
115632-115665
33
Trench failed to intersect vein
GP-7
32.66
115700-115721
22
7.49m @ 7.61 g/t Au, including 2.01m @ 21.36 g/t Au
GP-9
33.06
110574-110592
19
8.81m @ 20.806 g/t Au, including 6.36m @ 28.344 g/t Au
GP-10
25.58
110593-110608
16
4.60m @ 8.41 g/t Au
GP-11
14.11
111057-111071
15
No significant values, failed to intersect vein
Trenches 1, 2 and 8 were located on a separate target area.
The Tambor properties consist of a large land package (+1,000 square kilometres) located in Central Guatemala, on the south side of the subcontinental scale Motagua Fault system. The area was recognized as prospective in 2000 when Radius geological staff located mesothermal-style gold mineralization associated with a belt of schistose rocks within this suture zone.
The Company entered into a joint venture with Gold Fields Ltd. of South Africa in December 2001 whereby Gold Fields has the right to earn a 55% interest in these holdings by spending US$5 million in exploration and development over a three-year period. Over the past year US$1.7 million was spent on the properties conducting geological mapping, geochemistry, trenching and first pass drill testing of several of the identified mineralized zones.
Radius is a gold exploration company with extensive land holdings in Central America. The Company is exploring and developing project areas through joint venture partnerships, a strategy which allows Radius's geological team to focus their expertise on locating additional grassroots gold mineralized systems.
For further information on the Company and its projects, please call toll free at 1-888-627-9378 or visit our web site at www.radiusgold.com.
ON BEHALF OF THE BOARD Symbol: TSXV-RDU
Shares Issued: 23.7 million
"signed"
Simon T. Ridgway, President
The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release.
It is somewhat surprising that the company has not announced what has become of the Rand Development and Production Agreement since the last news release indicated that the agreement would be extended only to December 1st.
I am guessing that the silence is due to ongoing negotiations between Moydow and Newmont related to the future of Ntotoroso.
tf
A letter to shareholders dated July 29th:
Message to our shareholders
July 29, 2002
Your Company continues to pursue strategic opportunities while remaining focused on its core business of advancing the development of the Ntotoroso gold project in Ghana. As previously reported. the Company has staked a large block of mining claims in the Botwood Basin region of central Newfoundland.
Importantly, the second quarter has seen a general upswing in the price of gold and gold stocks. The price of gold has averaged $301 per ounce so far this year compared to an average of $271 for all of last year. There have also been a series of consolidations and mergers in the gold mining industry, not least that of Newmont Mining Corporation acquiring Normandy Mining Limited earlier this year which has resulted in Newmont becoming the Company's joint venture partner on the Ntotoroso gold project.
Newmont is continuing to review its large portfolio of gold assets including its holdings in Ghana. Moydow Mines is happy to continue working with the new joint venture partner and looks forward to fully realizing the potential of the combined projects at Ntotoroso and Yamfo Sefwi.
In July 2000, your Company successfully negotiated a production agreement with Normandy Mining whereby the ore from Ntotoroso would be treated at a Normandy owned plant which was planned for Yamfo Sefwi. It was originally intended that the agreement lapse if a production decision had not been made by July 24, 2002. It has been agreed by both Moydow and Newmont to extend the term of that agreement for a further two months to September 24, 2002 to allow additional time to determine the optimum way to advance the development plans for the Ntotoroso property.
During the quarter Moydow staked 570 claims in the Botwood Basin region of Newfoundland. This region has been the focus of a major staking rush in the last several months. In early July, the Company completed a private placement of 687,500 flow-through common shares at a price of Cdn$0.80 per share for net proceeds of Cdn$504,000. The proceeds from this financing will be used for exploration of the Botwood Basin claims. Although exploration is at the initial phase, we are quite excited at the potential of this group of claims to host a significant gold target. In the next several months we expect to outline potential drill targets.
The Company has curtailed exploration on the unpatented claims in Nevada and on the Mali projects in the interest of concentrating resources on Ghana and Newfoundland where we are most likely to enhance shareholder value in the immediate future. On the Mali projects we are currently seeking alternative ways of funding and increasing the value of these projects.
The next quarter should see the finalization of plans for the development of Ntotoroso, as well as renewed exploration to test both the deep potential of Zone E and to test other significant gold anomalies on this large property. Following discussions with Newmont, we fully expect to see an aggressive exploration effort at Ntotoroso. We will also seek to add value to our other projects in a cost effective manner and we have no doubt that our exploration successes will continue.
"Signed"
Brian Kiernan
President and Chief Executive Officer
July 29, 2002
The last news from the company:
Update on Ntotoroso Production and Development Agreement
September 23, 2002
Toronto, Ontario -- Brian Kiernan, President and Chief Executive Officer of Moydow Mines International Inc. announced today that, together with its partner Newmont Mining Corporation, it has been agreed to extend the terms of the Rank Development and Production Agreement to December 1, 2002. Rank Mining Company Limited holds a 30-year mining lease on the Ntotoroso property in the Yamfo-Sefwi gold belt in Ghana. Moydow and Newmont both have a 50% interest in Rank Mining.
The Rank agreement, initially signed on July 24, 2000, is a supplement to the original Joint Venture and governs the way in which the Ntotoroso property will be brought into production in conjunction with the Newmont owned Yamfo-Sefwi property.
This extension to the agreement will give both parties the time to evaluate the technical work currently underway at Newmont and the opportunity to best chart the future course for Moydow and Newmont.
The new strength in the gold price has significantly enhanced the value of Ntotoroso. The feasibility study completed in early 2001 resulted in a viable project at a gold price of $275. The current gold price is $50 per ounce higher which means an additional $60 million in revenue to the Ntotoroso project. The study did not include additional tonnages of inferred reserves or any potential tonnages from underground targets. The high grade core of Zone E on the Ntotoroso property is open at depth. In addition, there are several untested geochemical gold anomalies on the large Ntotoroso property which warrant follow-up work.
Moydow Mines is engaged in the acquisition, exploration and development of precious metals properties including a 50% interest in the Ntotoroso gold project in Ghana, West Africa on which a feasibility study has been completed based on reserves to date of 1.2 million ounces. Corporate information is available on the Company's website www.moydow.com. The Company is listed on the Toronto Stock Exchange under the symbol "MOY".
"Signed"
Brian Kiernan
President & CEO
For further information please contact: Michael Power, Vice President, Corporate Development at 416-703-3751
More on Ntotoroso
A feasibility study was conducted in 2000/2001 the results of which indicated the the 1.2 million oz reserve (Zone E) in Ntotoroso could be mined at a cash cost of $179/oz.
At $350/oz gold that makes Ntotoroso worth roughly $200 million US. If we subtract the estimated capital cost for startup, $31 million, we get a value of $170 million from Ntotoroso and $85 million for Moydow's stake. Thats about $128 million Canuck. Moydow has about 30 million shares outstanding giving a rough estimate of the value of Ntotoroso to Moydow shareholders of $4.25/share (my calculation).
Not included in the calculation is the fact that a high grade zone of ore at the bottom Zone E remains open at depth and that there are other zones on the property (Zone A and C) with reserves not included in the calculation.
New thread MOYDOW MINES moy.to - #board-1502
I think this one is under valued right now.
tf
I stupidly located a new board in the wrong place.
board #1502
Can it be moved to free zone/mining resources?
tf
After researching this company this past weekend I was very impressed with what I found. I believe this company to be very undervalued at this time and a possible future take over candidate by Newmont Mining Company.
I'll post more on that later.
tf
I keep forgetting that this board is for the new company and not NTG. All my posts have been talking about NTG so my apologies to the thread for any confusion. Soon it won't matter though eh?
Lots of volume on NGT today.
tf
Well I took advantage of the seller at Cannacord and added a whack of shares at .37
Think we'll be back into the .40's soon enough.
tf
I agree the down side risk is limited at this point.
I think this company is headed in the right direction. CIBT, SEG and IRIX all seem to be improving their bottom line. The question is: Will the market pay attention? If this were 1999 we'd be over $10 right now but those days are over.
As far as what .02 earnings would do to the stock price, I dont know. Depends on the market. Depends on the message getting out. Depends on a lot of things.
Is your question completely hypothetical or are you actually expecting earnings?
tf
This thread looks dead. Did everybody sell this during tax loss season? I am still holding a whack of shares and wondering if there are any other bag holders out there??
I know there is a more active thread on Stockhouse but maybe its time to get this one going?
I don't think the share price completely reflects the developments with the company over the last 2 years (has it been that long???) but I am wondering, when will it?
http://ca.finance.yahoo.com/q?s=CPT.V&d=c&k=c2&a=v&p=m50,m200&t=2y&l=on&...
The chart is not a pretty picture but we have moved above the 50 day moving average so perhaps there is hope.
tf
Having gone through the website and a lot of the press releases, I can't find any reason for this one to be hitting new highs. There is a lot of drilling going on by their joint venture partners but nothing significant has been released.
I will continue to watch this one for now.
tf
I recently sold this one at 2.85. Seems to me Cumberland is thinly traded and prone to big price swings. If it goes back down below $2.50 (I'm thinking it will) then I may buy some back.
200 day ma is around $2.40 and I would not be surprised to see it come down that far.
Comments??
tf
I just filled out my proxy and voted yes. Looking back I see I have some shares bought at .50 last May and some others that I bought at the beginning of December for .24. Now, I should have paid more attention to your seasonality theory Marcos and bought more in December. Still, I was tempted even yesterday to take some other shares at .38 and if I don't get some next week then I think I might just regret it six months from now.
What do you think?
tf
Strategist lists top silver explorers
Metal trails gold, but small miners finding success
By Thom Calandra, CBS.MarketWatch.com
Last Update: 11:27 AM ET Jan. 10, 2003
>> Berry also lists Cardero Resource (CA:CDU: news, chart, profile), a Toronto-traded company that Robert Bishop of Gold Mining Stock Report, one of the longest-running mining exploration publications, highlighted recently. See: 2003 bright spots.<<
SAN FRANCISCO (CBS.MW) -- The silver story will capture the imagination of American investors -- just not right away, says an authority on asset allocation and quantitative analysis.
The slightly precious metal's price can't seem to keep track with gold these days. Earlier this week, when the euro carved a three-year high out of the hide of the U.S. dollar, gold's spot price rose as much as $7 an ounce, or 2 percent. Its poor cousin, silver, rose a few pennies, or less than a half-percent.
Even Friday morning, as the dollar continued to topple from its currency perch and U.S. stocks tumbled, gold gained $2, or almost 1 percent. Silver was flat to down.
Over the course of a year, the picture is just as dismal. (See one-year comparison chart.) Silver's price is flat in the one-year span that began January 2002 -- at $4.85 or so an ounce. Gold's spot price is up 25 percent, to $354 an ounce.
Michael A. Berry sees the psychology of the crowd at work here. The former college professor of quantitative analysis, now a brokerage strategist, refers to Gustav Le Bon's 1895 book, "The Crowd: A Study of the Popular Mind."
Le Bon explains, "When by various processes an idea has ended by penetrating into the minds of crowds, it possesses an irresistible power and brings about a series of effects, opposition to which is bootless." In real life 2003, this means most Americans, snow-stormed by a decades-long rush into stocks, have forgotten how to diversify.
In the case of silver (and to a lesser extent, gold), I call this the Don Quixote effect. No one, except a faithful peasant serf, wants to touch the Man of La Mancha with a 10-foot pole. But when the tide turns, it turns in a big way. In other words: Don Quixote as rock star. The popular mind, says Berry, will embrace investments other than stocks, and then the ensuing rush will sweep aside everything in its wake.
Berry has been a silver fan for years. His work on the subject, presented in several papers and speeches, identifies a wide range of new demands for silver, an industrial metal. The top strategist at small-stock market maker Leeb Brokerage chronicles research that shows silver as a possible replacement for the bacteria-battling agent chlorine.
Medical uses as disinfectants and anti-bacterials are also growing. Berry also points to anti-microbial silver compounds that combat pathogens, such as Legionnaires Disease, salmonella and e-coli bacteria. Silver solutions that could prolong the life of lettuce and other produce are also in the works. See: Asset allocations need surgery, silver.
Worldwide silver inventories of 400 million or so ounces are a fifth of what they were in 1990, says Berry. The former business school professor at James Madison University and the University of Virginia favors radical shifts in asset allocation for ordinary investors. These include silver and gold.
Several institutions, among them the World Gold Council, are developing plans for an exchange-traded fund that would make it simple for ordinary folks to buy actual, securitized gold in stock-market trading. For the most part, the big Wall Street and London banks routinely ignore gold, silver (and agricultural commodities) in their asset allocation models.
Berry is a believer in silver. He tells me, "Warren E. Buffett purchased 129.7 million ounces of silver in 1998. He must believe in its worth. George Soros and his Quantum Fund own 32 percent of Apex Silver Mines (SIL: news, chart, profile). Bill Gates owns at least 10 percent of Pan American Silver (PAAS: news, chart, profile)."
Even with demand for silver increasing about 4 percent a year, most investors are giving the metal Man of La Mancha treatment, Berry says. This week, I asked Berry for his favorite silver-mining investments. Here they are.
Apex Silver: "Superb management team led by Tom Kaplan, great field of geologists and very strong financial backing globally," he says. "This team has 470 million proven ounces of silver in Bolivia, and they have an exploration plan second to none in the mining industry, which is where real wealth will be created. Though they have not yet mined San Cristobal (in Bolivia), they will control much of the world's silver when the time comes."Industrias Penoles SA (IPOAF: news, chart, profile): "The Mexican miner has focused on silver and knows its own backyard the best. Stock is very cheap and they are a good management team, with Jaime Lomilin
leading the group."
Western Copper Holdings (CA:WTC: news, chart, profile). "WTC Toronto is a real up-and-coming silver story. They have an open-ore body in the Concepcion del Oro region of Zacatecas, Mexico, that has never been explored before. Tom Patton, who used to run exploration for Kennecott, is the key operating person, and Tom Turner is the field geologist who knows more about Mexican silver deposits than any man alive. Western Copper should list on the American Stock Exchange this year."
Several mining companies, among them gold and silver miner Wheaton River Minerals (WHT: news, chart, profile), which is active in Mexico, have seen their Toronto-listed shares gain sharply, 25 percent and more, in the first few weeks of AMEX trading.
Western Copper's shares, traded in Toronto, have quadrupled over the length of a year, even with silver prices flat. (Don Quixote is getting respect somewhere in investor-land.) "It could double or triple from here, and yes, I own the stock," says Berry.
Berry also lists Cardero Resource (CA:CDU: news, chart, profile), a Toronto-traded company that Robert Bishop of Gold Mining Stock Report, one of the longest-running mining exploration publications, highlighted recently. See: 2003 bright spots.
Finally, Berry points to Quaterra Resources (CA:QTA: news, chart, profile). "It has Nieves (in Zacatecas, Mexico). Though only six holes have been drilled, they all intersected silver, zinc, lead and gold mineralization," he says. "This is a very interesting story that will be discovered this year." Quaterra is a sister company of Western Copper.
Bullion proponents to gather
Gold-silver fund managers, analysts and mining executives will gather for their next major conference in Vancouver, British Columbia. The late January gathering, the Vancouver Investment Conference, will feature several gold mining analysts and newsletter editors whose hit rates on promising exploration companies were outstanding in 2002, among them Brent Cook, a geologist for Global Resource Investments. See: Canada Gold Show.
http://www.marketwatch.com/news/yhoo/story.asp?source=blq/yh...
Looks like they find silver where ever they drill. Hole WC 52 is particularily good since it's outside of the zone previously identified. How much bigger can this target get?
Think I will have to buy some of this company soon. I particularily like this which I found on the company's web site:
"Chile Colorado has the potential to contain 75-100 million metric tonnes of 3 ounce silver, or 225-300 million total contained ounces. Western now owns a 100% interest in one of the world's largest undeveloped silver resources with untested targets that could result in additional significant discoveries."
That was before these latest results. It will be interesting to see the resource calculation that should be out in the next few weeks.
tf
I've been doing some reading on the Radius website. According to the website, drilling was completed on the Holly property in late September however the news was not released until Dec. 17th. That seems like a long time. I wonder about the delay since it doesnt take that long to get assays done.
Also according to the website the company was supposed to be drilling on their Banderas property in the fall. I wonder if that means we will get results from Banderas before we get more results on Holly.
I am going to contact I.R. and see if I can get some answers.
tf
Good idea for a board.
I dismissed the first SWG release on their China property due to political risk. Look at the stock now (LOL). I still think there is some good chance that the Chinese will step in and take the whole thing.
tf
No problem. I was getting kind of lonely on my thread anyway.
Hi Chief
I had attempted to start a similar thread here #board-1453 but will post on this thread if thats okay.
tf
Out GLG at 18.26 for a small profit. No momo.
It will probably pop now that I'm out.
In GLG at 18.10.
The bids are stacking up nicely. Maybe a new 52 week high today?
Added some more just before the close. Pacific bought a load today. Dont know what it means but there should be news coming out on the Holly property soon.
Stopped out of Kinross. So much for yesterdays gains.
Hi Kirby
Im not an SI member but if you want to spam this thread over there, feel free.
Gold making a come back now.
In Kinross at 3.69.
Gold looking really strong in the overseas market. Should be another interesting day...
Ive started a daytrading thread for Canadian stocks- #board-1453
Right now it's just me posting. A way to keep track of my trades I suppose. With gold going the way it is, a number of these mining and exploration stocks are providing good opportunities for short term trading. Please feel free to join me over on the new thread if you are so inclined.
tf
I tried adding some more today but the bids kept creeping up. Maybe tomorrow the POG will settle and I can get some in the 30s.
TF
Marcos: Once the deal is done, what do you think we can expect as far as news? Seems like the share prices of NGT and AAS are lagging a lot from their June highs despite the price of gold. I've been a holder (bag holder) of NGT since May.
Out all of my Kinross at 3.88. That was a good one.
Holding Kinross overnight.
In Kinross at 3.67
Well, I'm going on holidays for a couple of weeks. Hopefully there will be somebody else posting here by the time I get back (ggg).
Merry Christmas and a Happy and Prosperous New Year to all.
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