Member Info for Morningsun

Looking, as it's your find, I think you should put that out in a separate heading post with a link to the aisc at cadia of possible. That is crazy stuff at USD 132 and a gold price at close to usd1500 potentially going to usd4000
MS

yes O7AW, best ignore that post. Don't know what I was looking at this morning...
Crikey.
MS

Timid, thanks. Although this view of reluctance of II to get onboard due to lack of reporting and/or listing regulations may be true, which I don't share by the way, I doubt it's the real reason for lack of movement in the SP.

We are at 1.7p. we have a JV with a major gold miner in a very safe jurisdiction and the results coming in are consistently great. Look at Rock. They are at the same MC now and what do they have? A couple of holes with good grades for some meters. They still have to raise quite a bit of money to proof up and/or mine. We are well ahead of them.

Look at SXX, MC of 244 mln.... What do they have, a plan to mine but no finance. If they can get it and pull off the complicated mining shaft than, in many year's time, they will have a profitable mine. However, until the bond crash II were very willing to invest in this aim listed explorer.

Both have no comparison to GGP and still here we are. I therefore conclude that aim listing is not the issue for II for not getting into GGP.

What is the issue with the lack of SP growth here I don't know either. What I do see is that there is just not enough volume. When VAST announced one of their spin stories again it quadrupled the SP. All based on promises repeatedly broken in the past. Large volume trading though.

GGP just doesn't attract volume for some reason and people are just too willing to sell on any rise.

MS

Yes indeed it's binary. But also weekend.
So either there was notice given on Saturday the 30yh November that the rig would NOT be released OR, the rig is released as no message received. This happens over the weekend when offices are closed.
As this is Monday morning it's entirely reasonable for the ensuing RNS to be drafted, approved during the morning and released during the day.
MS

No worries. Just a bit of banter.
Keep up the posts.
MS

Timid, I'm glad you also finally got there!
MS

Chartbuster,
Thanks for that.
Exactly what I am thinking and wrote this morning.
Game on.
MS

TomE,

I am not a mining expert. However, look at these investments from a purely business perspective and use the info available from the companies or the market.

As I said, I don't think NC is in an entirely comfortable position themselves. Rio have made it crystal clear they want to develop outside their historic market...
NC want to be strong with a solid SP to avoid making any unwanted solicitations too easy. To that extent, NC need profitable cashflow.

Telfer is a strategic asset and they would be loath to close it down as they would loose any advantage they now have over anyone else in the (potentially very prolific) Paterson..
Compare this with the fact that NC are recruiting for new long term positions at Telfer for the second time this year, I think they are signalling something.

Regardless of how prolific HAV is, I am starting to see that if NC want to remain ruler of the Paterson, and they are with their plant, they have to keep the Telfer plant open, even if it means a marginal results for a bit longer. Naturally, this is only if they believe one of these projects in the Paterson, being HAV, Scallywag or Pat East (or one outside GGP for that matter) holds the potential to be a new Telfer size mine, as that is what they need. OR, as NC have also indicated, they could be the processor for many more smaller mines in the area. One way or another, that plant needs to stay open.

So for me it's clear. NC either believe in the region or they don't. If they don't they will let Telfer plant run down and close shop. Maybe even flog it to more hopeful candidates. However, no signs of that at all, on the contrary. Clearly, going at it as hard as NC is doing at HAV, NC show the urgency and their believe in the concession(s).

I therefore conclude that, having made their decision on strategic presence in the Paterson (my conclusion), they have no option than to mine HAV (their most progressed (and promising?) play) in order as a minimum to keep the Telfer plant ticking over while waiting for the next Telfer size mine to reveal itself, whether being HAV itself or another concession in the area. And we all know how many super interesting plays GGP have already outlined..

MS

Thanks timid. That is an interesting piece of work. This really nails it for me.

The worry for NC would be that with a lowering SP they are becoming a more and more achievable takeover target. Not what they want I would hazard a guess.

Also, with more money towards projects they need to make sure income stream is bolstered to avoid further SP decline and on top of that, if they want to keep hold of the keys to the Paterson they need to keep telfer open. The only way to do that is bring more ore to the plant.

We already seem to know that hav has a substantial, mineable, amount of gold and copper resource. The question is only how big it is.

Can't therefore conclude otherwise than that NC have no other option than to mine Hav ASAP.

MS

Is what traders are betting according to Bloomberg TV this morning.
Wouldn't it be great if hav is just starting to spit out gold by that time...
MS

See, the same patronising arrogance again f on Sardy. Well if you had taken the time to review against what you just said there you might have known that I did strongly argue for the mengo instead of the djeno.

If indeed, as tiburn suggests as an option, the rig is delayed to Q2 then mengo might be an intermediate option. Nowhere is stated that it can't be done or that it's complicated.
Better than sitting on our hands burning money we don't have or make.
Unless of course the company comes up with a good reason not to do it and we will just have to tough it out. So, aaog that is, not poster's making up their own stories, which is good for speculation but remains only that.

And for your suggestion of an email, really? Do you also still believe in santa? The company is just going to tell me inside info that they have not RNSed are they?

MS

Sardy, I'm surprised at the hint of arrogance in that post.

So we have no feedback on why it ever happened (happy to stand corrected if there is official reasoning for the abandoning of this play) but in all your wisdom you pretend to be the moderator of this BB and we are not allowed to discuss a subject that you don't wish to discuss anymore. Well, then don't respond.

As long as we have not been informed by AAOG on WHY we never did the Mengo it is still an open topic, whether you like it or not.

I find it wholly unacceptable that the company never explained. Regardless of whether the Djeno will be great or not. As I said, cash is king in start-up companies.

MS

Thanks Tiburn,
even if the rig will be there in Q1, at 500bbl per day and USD60 per bbl the mengo would generate close to USD1mln per month. Even when started now.
Indeed, maybe there are technical reasons that I am not aware of and hope someone with more technical understanding can explain further but on the face of it this makes no sense to me. You can't beat cash in hand, especially in a start-up.
MS

Interesting to see the SP down again while buys far outstrip the sells.
If anyone is still in doubt about this being 'worked' than think again.
MS

Thanks Tiburn. Good summary and hope it works out.

I see you mention Mengo as I did some weeks back. Skittish dismissed it out of hand as 'done to death'.

However, what I can't figure out is, if no drilling required for Mengo stimulation and you flag it up as an option if Djeno rig is only Q2, then why not stimulate Mengo two months ago? It makes no sense not to do it and bring in money.
Cash is king the in these start-up companies. We all know that.
MS

Oooh gmcc, Byron Bay. Super surfing. Waves on a conveyor belt!
Don't forget to visit Fraser Island!
MS

Unbelievable. Gold share currently on the leader board being 62% up at the time of this post on the basis of one (1!!) hole showing 177 m of 0.5 g/t AU....

Really? Bleak in comparison with our results bit very different SP reaction.

Go figure!

MS

Excellent reply PG. Just as the sun breaks out here as well !
Bring it on.
MS

Nice one Tiburn.
Have you considered that if she really is a paid troll that she gets paid per headline subject (as she always starts a new one) AND subsequent responses on these headlines.

Maybe an idea to not respond to these new headlines anymore but make a new one ourselves when responding to this poster.

Just a thought.

MS

PG, that is exactly what I tried to convey in my post yesterday. Perspective.
MS