Hi TS...Agree, I still think however, that it isn’t ECR or any other miner I am invested in that is the problem, they just aren’t in favour ATM. That will change in time however.
I still think Gold will have a massive bull run in the years to come and for that reason I still invest in companies that are at early stage gold exploration and proving as I think there is massive value here given time.
Hi JDwag...there is just not the volume to move the SP further...either the MGA news has just not hit the radar, everyone who wants in is already invested, or prople are taking opportunities elsewhere and we may see a late rush at the end of this week/ start of next.
A nice dilemma to have this month, whether to top slice on MGA news or hold for Itogon & SLM sampling updates which could push this to a new level. If the board drop these updates next week as well things could get very exciting here in a short period of time!!!
Seems like they are happy to walk this up slowly, happy days if they continue this pattern for the next 7 days or so until the MGA Administrators meeting. The big value long term however is Itogon, it will be interesting to see how the 100 samples / trenching results come back as it will help delineate how large they believe the Itogon ‘Pay Zone’ is, should get this in ‘July’ so a great news stream this month with some SLM to possibly comes as well.
Yip. Buys taking it a few clicks up, a few profit takers moving it a click or two down then the usual flurry of buys taking it up again ending 2 or 3 % up for the day. It's amazing how far an SP can rise in little baby steps avoiding volatility that scares some away.
This article shows our neighbours payback on CAPEX of only 14 months and they have 1/2 of what I believe we have.
They used historical data too and modern techniques to unlock an amazing 82% increase in resource
Itogon is now as we speak planning phase 2 drilling with 3D mapping and I'm so looking forward to the progress made _________________________________________________________________________ July 7th: Miner sees more gold in Batangas.
Red Mountain Mining Ltd. has increased the high-grade resource of its Lobo prospect in Batangas by 82 percent, or 37,000 ounces of gold, to 82,000 ounces.
The Australian firm said in a statement that it already updated a previous mineral resource issued in January 2013 following results from ongoing drilling and trenching activities in Lobo town.
The Lobo mineral resource estimate, the company said, now stands at a total indicated and inferred volume of 604,000 tons of material, at an average grade of 4.2 grams of gold per ton.
Jon Dugdale, managing director of Red Mountain, said the increase in Lobo’s mineral resources was in line with the company’s strategy of extending the mine life of the planned Batangas gold project.
Along with resources from another prospect called Archangel, Red Mountain’s total resources in Batangas is now pegged at 444,000 ounces of gold.
“The key to the success of this project is the high grade of our initial planned production, and the potential to pay back initial capital very quickly and generate high-margin cashflow from day one,” Dugdale said. “Our exploration teams continue to discover new prospects with the objective of identifying drilling targets for future resource upgrades.” Last March, the company announced itwould look at building a gold mine in Batangas next year after a scoping study confirmed that a “low-cost, early payback” operation is “strongly viable.”
The projected revenue is pegged at about $121 million, while capital cost was estimated at about $15 million. According to the scoping study, which pertains to the early stages of a project, the pre-production capital cost may be recovered in just 14 months.
Also, the planned project is expected to provide at least $7.2 million in royalties and taxes for the national and local governments.
Yes I agree...a day of drifting up and down , but ending a couple of percent up. Would be nice to be around the 0.28 - 0.3 range by end of play on Thursady , then hopefully break through the psycological 0.3 barrier when anticipation grows on Friday and then where it ends up on Monday is anyone's guess. Unfortunately this does mean that Tall Chap will be whining about us not being above a penny and the corrupt MMs for a few more days (TC - we would not have it any other way :-)
Unfortunately I am travelling on Monday & Tuesday next week and will have intermittant internet access which is not good news.
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.