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1p =1m 4p =4m 7p=7m 16p=16m Even 16p would still look under valued if they get the green light on the mine. Very exciting time to be in Kolar. Pls dyor
stock of Kolar Gold Ltd (LON:KGLD) hit a new 52-week high and has GBX 3.43 target or 37.00% above today’s GBX 2.50 share price. The 6 months bullish chart indicates low risk for the GBX 2.60 million company. The 1-year high was reported on Mar, 22 by Barchart.com. If the GBX 3.43 price target is reached, the company will be worth GBX 962,000 more. The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 16.28% or GBX 0.35 on March 22, hitting GBX 2.5. About 3.37M shares traded hands or 165.35% up from the average. Kolar Gold Ltd (LON:KGLD) has risen 70.91% since August 20, 2015 and is uptrending. It has outperformed by 72.82% the S&P500. Kolar Gold Limited is a gold exploration and development company. The company has a market cap of 2.60 million GBP. The Firm is engaged in the development of gold exploration and mining assets in India. It currently has negative earnings. The Firm operates in Indian Exploration segment, which includes investment in gold exploration activities and administration in the Kolar Gold Fields region in Karnataka State, India.
To really begin to understand stand the reall value kgld . How difficult to enter the Indian as a foreign company and the years it takes, Kolar has already done that we should not under estamite that. Kolar Gold Mines location,how lucky to be there, big mining companies would pay huge premium just to be there, And I mean huge . We have to keep reminding our self this is the India the biggest gold market in the world. We all know the potential of where they are. Go back and check the price of kgld when they where talks of restarting the mine! !!. We haven't yet talked about the other projects,which I will in time. What would for example an Australian cmpany pay for all that 4p 7p 10p 16p more??
I have been here since October /NOVEMBER last year.
Chhattisgarh, Jharkhand to auction gold mines by next month 18 Feb 2016 09:08 AM | Source : PTI Share: Chhattisgarh, Jharkhand to auction gold mines by next month Font Resize: A A The government expects private sector's participation in the auction of two gold mines by Jharkhand and Chhattisgarh, even as there have been few takers for limestone blocks. Besides, the government will soon start production from the Bharat Gold Mines Ltd (BGML), earlier called Kolar Gold Mines, a PSU under the Mines Ministry which ran into heavy losses and was shut down in March 2001. As of January 15, Jharkhand and Chhattisgarh have put one gold mine each under the hammer. "Chhattisgarh will also auction a gold mine in the first week of March. Jharkhand too has one," Mines Secretary Balvinder Kumar told reporters here. As for Kolar gold mines, the government is trying to start mining at the block. After closure, the government through a 2006 cabinet decision, prescribed the global tender route to ascertain the value of its assets. Kolar gold fields were once considered one of the largest gold fields in India and mining here used to happen for centuries. It was nationalised in 1956 and in 1972, its operations were handed over to BGML. The fate of the matter, however, has remained hanging owing to a protracted legal wrangle between stakeholders with conflicting interests. Situated between Karnataka and Andhra Pradesh, BGML operated 4 mining leases before its closure. The biggest gold reserve of BGML, Kolar Gold Field (KGF), lies in Karnataka. According to estimates, even after 120 years of mining, the value of this mines runs into a couple of thousand crore, a senior government official said. Even as the government is trying to revive gold mining in the country, its efforts for other mines is not bearing the desired fruits. The mines auction in Maharashtra, Gujarat and Rajasthan has failed to find many interested parties, forcing the state governments to talk to theindustry and working on re-auctioning the blocks. As of January 15, Gujarat has put 5 limestone blocks for auction, followed by Maharashtra which has offered a block each of limestone, tungsten, iron ore and bauxite. "Rajasthan, Gujarat and Maharashtra are not getting adequate responses for the auction. Now, the state governments are talking to the industry on how to do it again," Kumar said.
Kolar Partners Consortium Structure Geomysore Services India Sun Group Kolar Partners This International Mining Consortium is made up of a dedicated group of experienced mining executives, mining experts and technology companies backed by a number of specialist financing groups. This group is considered worldwide to have some of the best mining companies, mining executives, modern mining technology and commercial experience available for this milestone Indian project. This mining consortium is purpose built, dedicated and focused exclusively on rehabilitating Kolar and its community with the BGML workforce as a JV partner. The consortium was specifically established to acquire and revive the Kolar Gold Fields in joint venture with the United BGML Mine Employees.
Share Register % Holdings Number Of Shares Name Of Shareholder 18.28 19,428,297 Pershing Nominees Limited <MDCLT> 10.98 11,666,237 SUN Mining And Exploration Limited 3.74 3,972,000 Vidacos Nominees Limited <FGN> 3.30 3,507,979 Nortrust Nominees Limited <TDS> 3.25 3,450,000 Lynchwood Nominees Limited <2006420> 3.14 3,333,333 Nortrust Nominees Limited <JPX01> 106,293,537 Total Shares In Issue Updated: 11 Nov 2015 Shares not in public hands 22.1%. Significant shareholders holding 3% or more.
I think the potintial here is huge even with the rise we had so far. Little patient will be will rewarded. High risk share but that's Aim. Really exciting times to forward to.
After 15 years, Kolar Gold Fields may be mined again Mar 04, 2016 - B.R. Srikanth | KOLAR GOLD FIELDS (Karnataka) Email this page Printer-friendly version For thousands of families of this mining town, this year’s Independence Day could well stand for independence from abject poverty as the quest for gold will resume through a joint venture forged between the state government, a company launched by former employees of Bharat Gold Mines Ltd, and a special purpose vehicle consisting of an Australian mining company and several foreign financial institutions. The SPV has agreed to infuse funds to the tune of Rs 1,200 crores through FDI for shallow mining of gold, besides squeezing out the metal from more than 13 million tonnes of tailings (known in local parlance as “Cyanine dumps”), a move which would renew employment for at least 1,200 former employees of BGML or their kin after a gap of 15 years. That’s not all. More than 3,000 former employees would get dues to the tune of Rs 52 crores. “I think August 15 will be an auspicious day to start mining operations because formal approvals by the single window agency and the state high level clearance committee will take a couple of months,” Mr G. Jayakumar, chief executive and director, JMJ Minerals Pvt Ltd, a firm launched by former emp-loyees of BGML, said. He said while the tailings alone could yield gold estimated at a whopping Rs 25, 000 crores, the new enterprise would extract between three to 12 grams of gold from a ton of the ore through shallow mining (up to 300 feet) over the next 25 years. The state government would hold a major share in the new entity as it could, under section 17 (2) of the amended Mines and Minerals (Development and Regulation) Act, reserve an area for mining exclusively through a government company or corporation. “We submitted a memorandum to chief minister Siddaramaiah in January, describing the plight of impoverished ex-employees and their families, offered to work with the state government under a PPP model and bring in substantial investment and world-class technology with the help of the SPV. He made sure that we sign an expression of interest (EoI) with the state government during ‘Invest Karnataka-2016’, and also appointed a nodal officer to help us file investment proposals,” he added. Mr Jayakumar said the financial and technological consortium would invest Rs 500 crores in the first phase, and Rs 700 crores in the second phase. With investments of such quantum, headcount of the new enterprise could increase to 5000 in three years, but preference would be given to ex-employees of BGML or their kin. “Reviving mining will help the government earn revenue as royalty and income on its share in the joint venture while former employees will be rehabilitated. In fact, more than 1,500 people have died so far due to starvation after the closure of BGML, and infant mortality has also increased as
BENGALURU: The Congress government in Karnataka will start the process of acquiring the township of Bharat Gold Mines Ltd (BGML) and its assets from the Centre on Tuesday. The state will take over efforts to revive the historic mines, which were shut by the Atal Bihari Vajpayee government in 2001. The land and assets of BGML at Kolar Gold Fields (KGF) in Karnataka are held by the Union government in the name of the President. Union mines secretary Balvinder Kumar is meeting Karnataka chief minister Siddaramaiah and chief secretary Arvind Jadhav on Tuesday to discuss the process and formalities of the handover, which has been cleared by the union government, a senior state government official told ET. Kumar arrived in Bengaluru on Monday evening. The official said Karnataka is to acquire the BGML assets through its own mining company, Hutti Gold Mines. A joint venture will then be formed with a private company called JMJ Minerals, comprising former BGML workers, which will provide the administrative, financial and technological support required to take up shallow mining at KGF. JMJ Minerals CEO G Jayakumar said the state government had already signed a memorandum of understanding to this effect at the Invest Karnataka meet in February. "Once the process of handover is finalised, we will provide all required to the Karnataka government to restart the mines," Jayakumar told ET. JMJ — along with an Australian company — has got all its plans in place as it had intended to bid for the global tender that the UPA government had proposed in 2006 for BGML's revival. "That process took so long and the global tender has been caught up in various kinds of red tape," Jayakumar said. "Now that the Karnataka government has come forward to acquire the assets under section 17/2 of the new MMDR rules, we are joining hands with them to revive the mines." MMDR refers to the Mines and Mineral Development and Regulation (Amendment) Act, 2015. The Karnataka government has already appointed a nodal officer from the state's Centre for Technological Upgradation under the industries department to coordinate with Jayakumar and take the project forward. This article in the economic times 22/3/2016 . I think this is the reason for the rise we have seen In 6 weeks or so. "We have worked out a techno-feasibility report where the state government will earn revenue through this project," Jayakumar said. "The cost of production was much higher than realisation in 2001, but now gold prices are very high and there is a lot of encouragement for gold mining. The Centre has also agreed to waive about Rs 1,700 crore liabilities that BGML is facing."