Member Info for united88

nice end to the week. Positive news this week, GGG seem very keen to move this quickly and show the Auzex shareholders we have a plan and now lots of extra expertise as well. Obviously this could get messy, but I was always confident in the short & medium term prospects of this company. In a way I would have preferred it if this whole issue had never come up, as this is my largest holding and everything was going well. On the other hand the next few weeks should be very exciting - never been in a share during a takeover, hopefully this turns out well. If it does then we will be laughing - and we've still got the resource upgrade to come. To be fair, even though I'm not an expert, I think this offer would represent an amazing deal for GGG, which leads me to think that Auzex shareholders may reject it and wait for a better one.

great news today. As Vicehoudini says we could get a ST drop, but this, added to the (almost guaranteed?) resource upgrade that's coming, could mean happy days for us over the summer! Anyone think that GGG could release some kind of preliminary statement on the resource upgrade, e.g just giving a rough estimate, very soon so as to raise the SP for a placing if that's what's required for the takeover?

Why not? I'll take a guess at hitting 50p on Monday 14th........ Although I wouldn't be stunned if we had a bit of a retrace and it took a few weeks to get there, but things are looking very positive. Even though my calculations further down this bb are so rough they are basically just wild guesses, I've seen a few reasons to think that $125 per in situ ounce is a better starting point to value this. Partly because it's just such a good resource and the gold should be cheap to extract, but also because I can see the problems in NA & ME rumbling on for a while, and even if it doesn't get worse it will keep up the uncertainty, benifitting gold developers/miners- especially those in "safe" countries. We've had some excellent press, got good news coming. Yes it's kind of expected news so it'll be "priced in" to some extent although I feel this was/is undervalued anyway so should still get some nice rises.

Ok that got a bit rampy towards the end! It's arguably a realistic best case scenario but best case scenarios rarely come through.

to see us getting some press. GGG has been underpinning my PF while others went down in the last month, and whilst I am more than delighted with a few percent a day I'm starting to expect some bigger intra-day jumps over the next few months. The amount of value you can put on an in the ground oz of gold is wide ranging, but the lowest estimate I've seen from an analyst is $30-$90 world average depending on how close to production. Other analysts are saying $80-120 an ounce in the ground for Canada, which is fairly good comparison to Oz. Let's base it on Canada then and say $100 dollars an ounce for GGG. You could perhaps say more as we should be in production quite soon (in mining terms), and we're going to get some up to indicated/measured hopefully, and the resource is very shallow and should therefore be much, much cheaper to extract. with 2 million ounces thats $200 million divided by 2 (own 50% of the resource) = $100mil thats £61 million and added to the 5-10 million GGG has in the bank (lets say 7.5million) = £68.5million so thats a 23% increase on current SP to 47p, so thats where we should already be according to these very rough estimates and the $100/ounce valuation, with 3 million (this is now looking quite likely) it's $150 million dollars worth for GGG, which is $91.5m, plus cash est = £99 million so thats a 78% increase or an SP of 68p 4 million ounces would be $200 million for GGG, or £122 million. + cash equals £130 million ish. thats 132% increase to 89p and 5 million would be.......just lovely :) and remember, $100 an ounce for valuation in Australia is possibly too low - the key point being how many mines are several km deep and so a world average isn't a fair reflection on GGG max 160m depth. (to be fair it may also be too high, because I'm an amateur and I love GGG!), and the gold price could keep rising, especially with current instabilities. Plus I have heard reports of company directors saying $200-$250 dollars an ounce, for countries less stable than Oz, although I'm not convinced on that it's nice to think about! It's not absurd to double the above valuations.......ok now I'm getting ahead of myself! But just for fun lol...... $200/ounce X 5 million ounces = $1 billion!!!!! /2 = £500 million,so an SP of 343p. Ker-ching :)

would hold off until I can get some in an ISA in the next couple of weeks......... Does ASX count as a main stock exchange? And thus make GGG isa'ble?

The SP is at roughy the same level as it was in October, slightly lower in fact. Yet since then we've had plenty of encouraging developments - this share makes me think of a coiled spring. Hoepfully it won't jump up and stab us in the eye, a la Homer Simpson. I've already had far to many "D'oh!" moments since I started investing!

Todays RNS http://www.investegate.co.uk/Article.aspx?id=20110131100627P52B1............. for those who haven't seen it Blackrock going over 5% threshold - nice vote of confidence there. Gopies - I agree. All things considered, I'm almost expecting a re-rating now as opposed to "just" a massive rise in the next 4-5 months. Save for a crash in the price of gold, or horrendous natural disasters, we GGGers are going to be laughing.

they're right on the mid, and I'm not a technical expert. I'd lean towards saying they are buys, although thats based largely on the general sentiment around this share, the fact that we've had recent encouraging news, plenty of buys recently....... and perhaps some positive thinking too!

It's certainly looking good. Worth remembering that the market cap was at this level a few months back - and since then we have had further encouraging news. A bit surprised we haven't had a real surge forward this month, but it's provided a nice opportunity for stake building :)

if you look back a few pages m8, you'll see a couple of summaries that i've posted, including some of the newsflow that we expect in 2011.

resource increase...... "In summary the drilling results to date have improved management's confidence in the current resource model and validated the historic data that was used to estimate the resource model. New zones of mineralisation have been intersected both below and along strike from known mineralisation which will add to the updated resource estimate"

last post was wrong - sorry guys, the metallurgical results aren't expected within next 3-4 weeks. Here is a rough summary of the newsflow to come Next month or so * Further initial results from the drilling * Resource increase - this seems certain, because the 2 million ounce current resource only includes the first 120m of drilling, and we know there is significant amounts of gold beyond the 120m. The BoD have suggested we could go down to 160m or so, which is still very shallow for mining. * Possible confirmation of ASX listing Feb/March * Metallurgical results H1 2011 * ugrade/increase JORC classifications (get some of the inferred up to measured etc) H2 2011 * further drilling - for which we are already funded * full feasibility study. Could be completely by mid 2011 but will defo be done by end of the year.

we should really be getting some further results from the drilling, including a resource upgrade and metallurgical results, within the next 3-4 weeks.

We're on the other side of Australia, so no flooding worries for GGG just now!

And a happy new year to you too! And I don't think they are on the ASX just yet - they have lodged the prospectus though and would have thought, with the BoD experience they would know what they are doing, so hopefully won't take too long. GGG have enough cash to continue work as planned even if there is a delay with the ASX listing anyway, so happy days :) Got my topup in this morning at 24.24p. I would have been able to put alot more in had I not topsliced KEFI a little too early in the day

I know this is an insensitive question, but does anyone know how badly the mine has been affected?

whilst SP predictions are something I like to avoid, we can be very confident here I feel. The 2 million ounce inferred resource only includes somes of the site, and only to a depth of 120m. Firsty, thats very shallow and so will be muh, much easier to get out of the ground. Secondly, the BoD (who've been there, done it and bought the t-shirt) have already stated that they have found some high grade intersections below the 120m cut-off. I may be wrong, but in my mind that makes it certain that we will get a significant resource upgrade. GGG need to do more drilling to define this, and they are funded for this and everything else over 2011. The only realistic event that could de-rail us is a crash in the price of gold, and if the world economic uncertainty continues then this becomes less likely. Having said that, a drop to roughly $900/ounce and the project would still be economical (unless there were huge rises in production costs) although my thoughts will change as the situation develops, my mindset is that unless the gold price tumbles, I won't even think of selling this for less than £2. I was thinking £1.50 before the recent results showing that we will get a resource upgrade, and I'm trying to be conservative. Ramp over! ............................for now :)

mate, anyone can just make a website to help make their ramps look more official! but yeh, they aren't a bad company. Diamonds could do very well in the future :)

Sometimes with consolidation there is further placings, so maybe a few investors are wary of that in the short term. Like you say, in the medium to long term I think this is as good a bet as you'l get for a junior miner on AIM, in Gold. Plenty could stil go wrong of course, but with the positives we've got going for us, a short term drop in the SP is probably a good thing, an opportunity to top-up :) Just need a few others to come through, topslice and then I'l be buying in here. Anything near 20p I'll be happy with :)