:)
closed at 9.9 cents today!!!!!! more than 40% increase today!
will update later when i got a bit of time, very excited to see the volume and trades go through - interestingly, it takes some hours for the ASX news today to hit the share price - unlike more well known shares like BHP etc.....
Friday, November 26, 2010
Thursday, November 25, 2010
Nov 25:Venture Minerals owns one of world's largest undeveloped tin projects at Mt Lindsay
Venture Minerals owns one of world's largest undeveloped tin projects at Mt Lindsay
At a time when the tin price continues to outperform other base metals, Venture Minerals' (ASX: VMS) exploration drilling over the past three years has delivered one of the largest undeveloped tin projects in the world.
Following a major infill and extensional drill program in preparation for the company’s pending pre-feasibility study, Venture Minerals has substantially upgraded the resource for its flagship Mt Lindsay Tin/Tungsten Deposit in North-West Tasmania, delivering a 28% increase in tin metal to 120,000 tonnes of contained tin and tungsten.
Significantly, over 75% of the previous inferred resource has now been converted to the indicated category (at a 0.35% & 0.45% tin equivalent cut-off).
Combined resources at Mt Lindsay now extend over a total strike of 3.9kms with a further 34 strike kilometres of skarn targets still to be explored.
With tin prices on the London Metals Exchange currently hovering around the $US25,000 per tonne level, with probable supply deficit conditions for the tin market, the timing of the resource increase at Mt Lindsay could not have been better.
With the new resource base, Venture will gain a substantial platform to complete the prefeasibility study, and a catalyst for Venture to move to development and ultimately production and monetisation.
That today's resource increase at the Mt Lindsay Project has been delivered from testing only 10% of the Company’s skarn targets is all the more impressive.
Importantly, the mineralized zones at Mt Lindsay are shallow plunging, typically outcrop at surface, and average 15-20m in width, making them very amenable to open pit mining.
Venture currently has six drill rigs at site targeting down plunge extensions to the Main Skarn, No.2 Skarn, Stanley River South and Reward, as well as drill testing multiple exploration targets.
Following the recent capital raisings, Venture is now fully funded for ongoing exploration and feasibility studies with $28 million in cash.
Venture has now completed over 40,000 metres of diamond core drilling at Mt Lindsay over the past three years, including 13,000 metres in the past six months alone.
Mt Lindsay also has the major advantage in that the deposit contains significant co-products including 38,000 tonnes of tungsten (WO3), which would substantially increase revenues from any future production.
Following completion of the infill drill program, which focussed on the high grade tin and tungsten zones within the Main and No.2 Skarns, the company has seen a strong conversion of the resource base from the inferred to indicated category.
In addition Venture delivered exploration success from both the Stanley River South and Reward Prospects which saw additional metal added to the overall Mt Lindsay resource base.
Article highlight
That Mt Lindsay is now one of the world's largest undeveloped tin projects is impressive, however the size of co-products will significantly boost future production revenues. A 28% increase in resource base from less than 10% of targets is a portent of the potential project scale and revenue potential at Mt Lindsay.
At a time when the tin price continues to outperform other base metals, Venture Minerals' (ASX: VMS) exploration drilling over the past three years has delivered one of the largest undeveloped tin projects in the world.
Following a major infill and extensional drill program in preparation for the company’s pending pre-feasibility study, Venture Minerals has substantially upgraded the resource for its flagship Mt Lindsay Tin/Tungsten Deposit in North-West Tasmania, delivering a 28% increase in tin metal to 120,000 tonnes of contained tin and tungsten.
Significantly, over 75% of the previous inferred resource has now been converted to the indicated category (at a 0.35% & 0.45% tin equivalent cut-off).
Combined resources at Mt Lindsay now extend over a total strike of 3.9kms with a further 34 strike kilometres of skarn targets still to be explored.
With the new resource base, Venture will gain a substantial platform to complete the prefeasibility study, and a catalyst for Venture to move to development and ultimately production and monetisation.
That today's resource increase at the Mt Lindsay Project has been delivered from testing only 10% of the Company’s skarn targets is all the more impressive.
Importantly, the mineralized zones at Mt Lindsay are shallow plunging, typically outcrop at surface, and average 15-20m in width, making them very amenable to open pit mining.
Venture currently has six drill rigs at site targeting down plunge extensions to the Main Skarn, No.2 Skarn, Stanley River South and Reward, as well as drill testing multiple exploration targets.
Following the recent capital raisings, Venture is now fully funded for ongoing exploration and feasibility studies with $28 million in cash.
Venture has now completed over 40,000 metres of diamond core drilling at Mt Lindsay over the past three years, including 13,000 metres in the past six months alone.
Mt Lindsay also has the major advantage in that the deposit contains significant co-products including 38,000 tonnes of tungsten (WO3), which would substantially increase revenues from any future production.
Following completion of the infill drill program, which focussed on the high grade tin and tungsten zones within the Main and No.2 Skarns, the company has seen a strong conversion of the resource base from the inferred to indicated category.
In addition Venture delivered exploration success from both the Stanley River South and Reward Prospects which saw additional metal added to the overall Mt Lindsay resource base.
Article highlight
That Mt Lindsay is now one of the world's largest undeveloped tin projects is impressive, however the size of co-products will significantly boost future production revenues. A 28% increase in resource base from less than 10% of targets is a portent of the potential project scale and revenue potential at Mt Lindsay.
Tuesday, November 23, 2010
China eyes Aust mining assets in Africa
China eyes Aust mining assets in Africa | News | Business Spectator
Chinese companies are eyeing mid-tier Australian mining groups with African operations as a method of obtaining valuable assets in Africa, according to a report by PricewaterhouseCoopers LLP.
PWC global leader mining Tim Goldsmith told Business Spectator that Chinese firms looking to move into Africa are turning to acquisitions of Australian and Canadian firms with holdings in the region.
“In terms of M&A we are seeing a recent trend of Chinese entities seeking control of ASX listed vehicles with African assets, or the ability to spin African assets into these entities," PWC said in the report.
"Chinese companies are increasingly on the hunt for targets that offer in-country experience and relationships with African projects.”
The PWC report found mid-tier mining companies with a market capitalisation of less than $5 billion recorded a 33 per cent increase in revenue to $11.3 billion for the year to June 30, compared to $8.5 billion lasy year.
A 23 per cent surge in metals prices contributed to the rise, as Chinese demand led to increased production and expansion by the mining industry.
“While there is still some uncertainty surrounding the impact of the Minerals Resource Rent Tax (MRRT) the mid-tier remains strong and ready for growth with cash balances accounting for 10 per cent of total assets during 2010, to be in excess of $7 billion,” Mr Goldsmith said in the report.
He told Business Spectator that M&A activity would continue in the industry, but that while this time last year the main driver for consolidation was survival, right now the key driver was growth.
"We always see consolidation in the mining sector and i think that will continue," Mr Goldsmith said.
The report said mid-tier miners are well-poised for growth in the future and many are planning investment into project development and expansion activities.
"While current market conditions suggest short-term volatility will persist, investors should be ready for a return to strength by Australia’s mining mid-tier.”
Chinese companies are eyeing mid-tier Australian mining groups with African operations as a method of obtaining valuable assets in Africa, according to a report by PricewaterhouseCoopers LLP.
PWC global leader mining Tim Goldsmith told Business Spectator that Chinese firms looking to move into Africa are turning to acquisitions of Australian and Canadian firms with holdings in the region.
“In terms of M&A we are seeing a recent trend of Chinese entities seeking control of ASX listed vehicles with African assets, or the ability to spin African assets into these entities," PWC said in the report.
"Chinese companies are increasingly on the hunt for targets that offer in-country experience and relationships with African projects.”
The PWC report found mid-tier mining companies with a market capitalisation of less than $5 billion recorded a 33 per cent increase in revenue to $11.3 billion for the year to June 30, compared to $8.5 billion lasy year.
A 23 per cent surge in metals prices contributed to the rise, as Chinese demand led to increased production and expansion by the mining industry.
“While there is still some uncertainty surrounding the impact of the Minerals Resource Rent Tax (MRRT) the mid-tier remains strong and ready for growth with cash balances accounting for 10 per cent of total assets during 2010, to be in excess of $7 billion,” Mr Goldsmith said in the report.
He told Business Spectator that M&A activity would continue in the industry, but that while this time last year the main driver for consolidation was survival, right now the key driver was growth.
"We always see consolidation in the mining sector and i think that will continue," Mr Goldsmith said.
The report said mid-tier miners are well-poised for growth in the future and many are planning investment into project development and expansion activities.
"While current market conditions suggest short-term volatility will persist, investors should be ready for a return to strength by Australia’s mining mid-tier.”
Sunday, November 21, 2010
Mining Rush in West Africa - CNBC.com (Cape Lambert Resources) CFE
Mining Rush in West Africa - CNBC.com
Airtime: Thurs. Nov. 18 2010 | :40:0 10 ET
West Africa is emerging as a new battleground for resources, says Tony Sage, executive chairman of Cape Lambert Resources. He speaks to Mohammed Apabhai of Citi and CNBC's Bernard Lo, Karen Tso and Martin Soong about the company's recently acquired assets in the region.Thursday, November 11, 2010
Noble Mineral Resources raises A$30m for drilling at Bibiani Gold Project
Noble Mineral Resources raises A$30m for drilling at Bibiani Gold Project
Noble Mineral Resources (ASX: NMG) has received firm commitments for the placement of approximately 77 million shares at 39 cents to raise $30 million to fund an extensive drilling campaign that is expected to result in substantial increases in reserve and resource estimates at its Bibiani Gold Project in Ghana.
The capital raising will be competed in two tranches. Tranche one will comprise the issue of approximately 44m shares and tranche two, comprising approximately 33m shares, will be issued subject to shareholder approval at an EGM to be convened at a later date.
The placement was undertaken by BGF Equities and Patersons Securities as Joint Lead Managers and reported strong interest from domestic and Asian based institutions. The placement closed heavily oversubscribed.
The proceeds will be used to underpin an aggressive exploration campaign at Bibiani, which will see up to five rigs operating at the same time, drilling as many as 55,000m a month for the next 12 months.
Drilling is expected to result in significant increase to current Resource of 1.98moz and Reserve of 605,000oz. Plant refurbishment is well underway with 90% of the strip out complete.
Bibiani is on track for first production in mid-2011, rising to + 150,000oz a year.
The first phase of this drilling campaign will focus on the west wall of the main pit which was initially earmarked for a significant cut back.
However, recent data compilation and subsequent remodelling, coupled with recent drilling from underground which intersected substantial mineralisation to within 300m of the surface, indicates that a significant portion of this area is mineralised and remains open.
Noble believes the strong potential for this region to be reclassified as ore represents a highly significant point in the re-development of Bibiani.
Under this scenario, the company will re-optimise the pit design, review its mining schedule and reassess other operational requirements to ensure it takes full advantage of what would be a substantial boost to the project’s life and economics.
Part of the proceeds from the share placement will also be used to fund infill drilling around known satellite deposits at Bibiani to enable this mineralisation to be brought into the resource-reserve estimate.
Noble is fast emerging as a major West African gold producer that will have substantial production with robust margins and significant exploration upside.
Noble Mineral Resources (ASX: NMG) has received firm commitments for the placement of approximately 77 million shares at 39 cents to raise $30 million to fund an extensive drilling campaign that is expected to result in substantial increases in reserve and resource estimates at its Bibiani Gold Project in Ghana.
The capital raising will be competed in two tranches. Tranche one will comprise the issue of approximately 44m shares and tranche two, comprising approximately 33m shares, will be issued subject to shareholder approval at an EGM to be convened at a later date.
The placement was undertaken by BGF Equities and Patersons Securities as Joint Lead Managers and reported strong interest from domestic and Asian based institutions. The placement closed heavily oversubscribed.
Drilling is expected to result in significant increase to current Resource of 1.98moz and Reserve of 605,000oz. Plant refurbishment is well underway with 90% of the strip out complete.
Bibiani is on track for first production in mid-2011, rising to + 150,000oz a year.
The first phase of this drilling campaign will focus on the west wall of the main pit which was initially earmarked for a significant cut back.
However, recent data compilation and subsequent remodelling, coupled with recent drilling from underground which intersected substantial mineralisation to within 300m of the surface, indicates that a significant portion of this area is mineralised and remains open.
Noble believes the strong potential for this region to be reclassified as ore represents a highly significant point in the re-development of Bibiani.
Under this scenario, the company will re-optimise the pit design, review its mining schedule and reassess other operational requirements to ensure it takes full advantage of what would be a substantial boost to the project’s life and economics.
Part of the proceeds from the share placement will also be used to fund infill drilling around known satellite deposits at Bibiani to enable this mineralisation to be brought into the resource-reserve estimate.
Noble is fast emerging as a major West African gold producer that will have substantial production with robust margins and significant exploration upside.
NOBLE minerals – Another GHANA GOLD producer in 2011??? (NMG)
NOBLE minerals – Another GHANA GOLD producer soon???? (NMG)
Summary
No of shares – 303m
Share price – $0.45
Market cap – $136m
Main Commodity – Gold
Country - Ghana
Having invested in PRU since it was $1.20 last year, I have done quite some research about Gold, especially Gold companies in Ghana.
As of yesterday, PRU went up to $3.50, so has sort of risen a lot.....I don’t foresee it going up to $7.00 or more in a year time.....therefore.....time to find another PRU-like junior explorer......
In the process of finding that, we went through Adamus (ADU), Castle (CDT), AZM (Azumah) etc......and some of them actually have increased a bit as well.
However, stumbled across NMG (Noble Minerals) one day and really like this share as well.
Bought it on 30th September for average price of $0.342.
Some of the things that i like about this share is:
1. 150000 oz p.a production starting from 2011.
2. Good geographical proximity to other big mines like chirano, ahafo etc.... (you guys can google Ghana Gold belt to find out the maps). This means that it is very likely to find gold in that belt.
3.
a. Measured, Indicated and Inferred JORC compliant resource of 32.98 million tonnes at 1.87 g/t Au for 1,980,000 ounces
b. Proved and Probable JORC compliant Open Cut Ore Reserve estimate of 8.4 million tonnes 2.24g/t
4. Aggressive drilling campaign that is funded recently by share placements etc........means a resource upgrade is coming soon which will further increase the share price, and also help the company to prepare feasibility studies to advance the mine further.
5. Bibiani – the gold mine is actually not a new mine, it has been mined in the past already by different companies, so it has confirmed gold deposits there already, plus infrastructure is pretty much fixed.
6. Gold price is all time high......and will continue to be as long as USD is being devalued by all the money printing that they are and will be doing in the future.
7. If you look at some of the trades that went through recently, they are pretty large trades which indicate to me that some big timers are in the game - yesterday there was one trade for 1.2m shares in ONE TRADE - that's huge....and a lot of trades that are for 500,000 shares in one go......make your own conclusions from there :)
7. If you look at some of the trades that went through recently, they are pretty large trades which indicate to me that some big timers are in the game - yesterday there was one trade for 1.2m shares in ONE TRADE - that's huge....and a lot of trades that are for 500,000 shares in one go......make your own conclusions from there :)
Happy investing!
Irene
CFE (Cape Lambert Resources) - Stable and Growing Company
Shares on issue – 625m
Share price now – $0.44
Market Capitalisation – $275m
Main Commodities – Iron (mainly in Congo), Gold, Rock phosphate and base metals.
Strategy - To acquire and invest in undervalued and distressed mineral assets and companies, and to add value to those Assets through a hands on approach to management, exploration and evaluation to enable the Assets to be monetised at a multiple. As Assets are monetised, the Company’s Board intends to follow a policy of distributing surplus cash to Shareholders.
Why i like this company is the strategy....in the past this company has returned quite some cash dividends to the shareholders once it find a seller for its assets, in fact the first time I bought this share at $0.385 on 11 June 2010, I received a dividend of 7 cents fully franked dividend a few weeks later. What was surprising is the share price actually rebounded back to $0.40 a few weeks ex-dividend! Pretty good dividend yield for such a cheap share. Since that first purchase i have continually topped up during the past few months.
What was impressive is that they took over DMM only in August 2010 for around $55m and recently signed a contract to sell DMM for $83m plus royalty from the production.....NOT bad for such a short holding period....
Tony Sage as chairman has indicated recently in news that he wanted to grow CFE to be a company with a billion sized company (around 3.6 times current market cap) http://www.theaustralian.com.au/news/arts/mining-magnate-plans-his-next-role-hollywood-producer/story-e6frg8pf-1225949108880
DJ Carmichael had a buy recommendation and a target price of $0.80 in July 2010, and calculated the sum of parts valuation to be significantly more than the share price. (http://www.capelam.com.au/IRM/Company/ShowPage.aspx?CPID=2025&EID=10216652&PageName=Carmichael%20Research%20-%20CFE%20Buy%20Recommendation%20AUD$0.80)
DYOR (Do your own research) and let me know if any thoughts. J
Happy Investing!
Irene
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