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  1. wind2close


    In reply to: Financial Chatter on Wednesday 29/11/06 01:57pm In my humble opinion, I think that the share price will move higher as they try to rasie additional capital? Please don't take this as a recommendation. I hold. W2C http://www.sharescene.com/html/emoticons/icon14.gif
  2. wind2close


    In reply to: mercury on Thursday 07/12/06 08:50am It amazes me how this stock hasn't moved on the back of today's announcement? I hold. W2C http://www.sharescene.com/html/emoticons/blink.gif
  3. wind2close


    In reply to: mayo1975 on Friday 01/12/06 10:13am Finally moving in the right direction. I hold. W2C http://www.sharescene.com/html/emoticons/graduated.gif
  4. wind2close


    In reply to: wolverine on Thursday 30/11/06 08:25pm I'm hoping that the selling is finally finished? I hold. W2C http://www.sharescene.com/html/emoticons/smile.gif
  5. wind2close


    In reply to: Waterfront on Thursday 30/11/06 10:53am GBG is looking very good at these levels. The stock needs to break the wall at 56 1/2 to confirm a breakout. W2C http://www.sharescene.com/html/emoticons/graduated.gif
  6. wind2close


    In reply to: Financial Chatter on Thursday 30/11/06 09:46am E1 East - Initial Resource Estimate has just been released. W2C
  7. In reply to: Histrionix on Wednesday 15/11/06 11:08pm Ferrets Stock to Watch: FOCUS MINERALS LIMITED 09:22, Tuesday, 28 November 2006 WORKING HARD TO PROVE THERE IS MORE GOLD IN COOLGARDIE Sydney - Tuesday - November 28: (RWE Aust Business News) ******************************************************** OVERVIEW ******** Focus Minerals Ltd (ASX:FML) is making a comeback and everybody likes a fighter when the share price is measured in cents. But this time the company appears to have gone about it the right way, selecting a prospective plot of land with a good discovery background such as the Coolgardie gold belt which has produced more than 2.6 million ounces of gold since 1892. And secondly in picking a big brother with clout about geology and some funds to put up front in the like of Canadian-based Matador Exploration Inc. Focus Minerals shareholders should be encouraged by the news that its Redemption Joint Venture with Matador is on the move, reflected by disclosure that they have begun a major $1.8 million exploration program including over 8,000m of new drilling. A visit to Focus Minerals last week showed renewed activity throughout the company. The Three Mile plant was close to operating again and piles of low-quarter quartz ore was only metres away ready to be dropped into the crusher, creating an immediate cash flow. On the exploration side there was an unexpected discovery at Perseverance with assays at 38g/t over about 122 metres and a further 900 metres currently being assayed from the same source. The new program is part of Matador subsidiary Committee Bay's three-year, sole-funded exploration funding commitment totalling $8 million to earn Matador a 50 per cent interest in the Redemption joint venture tenements. Committee Bay reported the completion of its first-year spending commitment of $2.7 million on April 20, resulting in its acquisition of an initial 20 per cent interest in the RJV tenements. Since the inception of the joint venture in August 2005, a total of in excess of $4.2 million has been spent on exploration at Coolgardie, including resource evaluations and optimizations, some 8,500m of RC drilling, 6,000m of surface and underground core drilling, surface geochemistry and extensive geological compilation and regional target development. Key highlights of the program, to be carried out over the next 3-4 months, include: * Infill drilling focused on key project areas including Dreadnought and The Mount and exploration drilling on Perseverance; * Surface and airborne magnetic and electromagnetic surveying on entire property; * Continuation of feasibility studies and resource optimizations at Dreadnought and Greenfields; and * Ongoing resource estimate upgrades at seven key project areas. SHARE PRICE MOVEMENTS ********************* Shares of Focus Minerals yesterday edged up 0.2c to 4.8c. Rolling high for the year is 7.2c and low 3.6c. The company has 471 million shares on issue with a market cap of $22.6 million. Focus Minerals's managing director, Peter Williams, said the program developed by Committee Bay included nearly 5,000m of reverse circulation drilling and over 3,000m of diamond core drilling on four target areas, representing a comprehensive exploration effort across the entire integrated Coolgardie tenement package. "RC drilling will consist of 1,875m at Dreadnought, 1,500m at Perseverance, 1,400m at The Mount, and 200m on the existing low-grade stockpile at Coolgardie," he said. "The drill program will also include core drilling of 800m at Dreadnought, 1,000m at Perseverance, 400m at The Mount and 1,000m at additional areas." The exploration program will be carried out in parallel with a feasibility study on the proposed early re-commencement of gold production at Coolgardie through initial treatment of existing low-grade stockpiles. "The Joint Venture has also focused its efforts on identifying possible resource acquisition opportunities in the Coolgardie area with the potential for toll treatment and custom milling," Mr Williams said. "This is an exciting exploration program which highlights the benefits of an integrated and unified approach to exploration at Coolgardie, where exploration historically has been hampered by fragmented land holdings and tenement ownership." To date, the Redemption Joint Venture has identified five types of mineralization at Coolgardie, with each type having multiple projects at various stages of development. A total of eight Bayley's Quartz Lodes type targets have been identified, as well as eight Shear/Thrust Fault targets, four Sulphide Lodes/Breccias targets, ten Tindals Diorites targets and seven dolerite or sheeted veins targets. BACKGROUND ********** Focus Minerals Ltd (formerly Austminex Ltd) is an Australian-based minerals explorer mainly focused on gold and nickel projects in the Coolgardie/Kalgoorlie region of Western Australia. The company aims to become a significant gold producer in the Coolgardie region. Through its Redemption Joint Venture with Committee Bay Resources Ltd, Focus Minerals is the largest landholder in the Coolgardie Gold Belt, located 560km east of Perth and 35km south of the "Super Pit" in Kalgoorlie. Over 2.6 million ounces of gold has been produced from the Coolgardie gold belt alone since 1892. Total exploration expenditure to September 30 was $5.3 million. The Redemption Joint Venture has the mineral rights to more than 210sqkm of under-explored tenements including Indicated and Inferred Resources totaling 1.421 million ounces of gold (Indicated Resource of 6.55 million tonnes at 1.82g/t gold and Inferred Resource of 13.83 million tonnes at 2.56g/t gold) as well as the 1.2mtpa Three Mile Hill processing plant, located in one of the world's most significant gold and nickel mining regions. Committee Bay is sole funding $8 million of exploration expenditure at Coolgardie in stages over three years to earn a 50 per cent interest. Its first-year minimum commitment of $2.7 million was met earlier this year. The overall objective of the Joint Venture is to define sufficient reserves to enable the Three Mile Hill Plant to operate at full capacity with five years of scheduled ore treatment, providing cash flow to further explore the surrounding highly prospective gold belt. On November 1 Focus Minerals announced that its $1.6 million capital raising, in relation to the prospectus dated October 20, closed oversubscribed ahead of its scheduled closing date of November 3. Mr Williams said he was pleased with the strong investor response to the offer, with the proceeds to be used to provide working capital to underpin ongoing feasibility and development programs at the Redemption Joint Venture at Coolgardie. Meanwhile on the gold front, the Redemption joint venture (80pc Focus and 20pc Committee Bay) has shown a 34pc increase in the gold resource for the Greenfields deposit to 1.616 million tonnes at 1.69g/t Au for 87,251 contained ounces, further enhancing ongoing feasibility studies. Committee Bay has begun a major $1.8 million exploration program at the Redemption Joint Venture, including over 8,000m of planned new drilling. A major 20-hole 2,900m in-fill drilling program commenced at the 235,000oz Dreadnought deposit designed to advance the project to full feasibility. Four strong conductors have been identified from ground-based EM at Perseverance and Flagstaff, associated with massive sulphides containing pyrrhotite, chalcopyrite, sphalerite, galena and high grade gold (historic drill hole TNG 1767RD intersected 18.63m @ 54.2g/t Au). A five-hole RC/diamond drilling program has begun at Perseverance, 400m north of established underground infrastructure at Empress. Results are anticipated in the December quarter covering a comprehensive VTEM helicopter-borne EM survey which was completed over the entire 210 sq km Joint Venture area, comprising 1,420 line kilometres at 200m line spacing with 100m in-fill. Resource upgrades are in progress at the Norris, Bayley's and Tindals areas, including Countess, Tindals, Cyanide and Empress, which are accessible from the Tindals Decline. The feasibility studies continued on re-opening the Three Mile Hill plant by treating low-grade stockpiles and other deposits located in close proximity. On August 8 Committee Bay formally earned an additional 10 per cent interest in the Redemption Joint Venture, increasing its interest in the Redemption Joint Venture to 20 per cent. Focus Minerals's interest is currently 80 per cent. The overall objective of the Joint Venture is to define sufficient reserves to enable the Three Mile Hill Plant to operate at full capacity with five years of scheduled ore treatment, providing cash flow to further explore the surrounding highly prospective gold belt. The Joint Venture has total gold resources at Coolgardie of 1.4 million ounces. ENDS Copyright © 2006 RWE Australian Business News. All rights reserved.
  8. wind2close


    In reply to: davepan on Monday 27/11/06 10:47am Not too sure however, charts appear to have 2.8 as the next test for MSC W2C http://www.sharescene.com/html/emoticons/icon13.gif
  9. wind2close


    In reply to: wolverine on Monday 27/11/06 11:19am One could now argue that the downside is now capped at 85cents? Looks like buying is slowly coming back. W2C http://www.sharescene.com/html/emoticons/graduated.gif
  10. wind2close


    In reply to: wind2close on Thursday 02/11/06 01:58pm Buyers slowly returning. It has been a heavy fall for this stock. I hold. W2C
  11. In reply to: sabretoothed on Friday 24/11/06 09:37pm PGM has has some nice gains but will need to fill the gap at 26cents. I hold. W2C
  12. wind2close


    In reply to: wolverine on Thursday 23/11/06 09:26am ASX ANNOUNCEMENT 27 November 2006 12 WALKER AVENUE WEST PERTH 6005 WESTERN AUSTRALIA PO BOX 806 WEST PERTH WESTERN AUSTRALIA 6872 TEL (08) 9321 5887 FAX (08) 9321 5884 EMAIL general@kimres.com.au WWW www.kimberleydiamondco.com.au KIMBERLEY RAISES $25.50 MILLION Kimberley Diamond Company NL (ASX: KIM; AIM: KDC) advises that pursuant to a mandate issued to Argonaut Limited of Perth, 30 million shares have been placed to eligible investors in accordance with section 708 of the Corporations Act 2001 at A$0.85 per share to raise $25.50 million. The issue was substantially oversubscribed. Argonaut Limited will be paid a fee of 5 per cent for managing the issue. The funds raised will place the Company on a sound financial footing for pursuing marketing and operational initiatives that are aimed at enhancing revenue and reducing operating risks and costs. Kimberley recently announced, following its diamond sale in early November, its intention to stockpile diamonds for a tender sale at the end of January or early February 2007 when the diamond market is traditionally buoyant. Whilst this is intended to maximise value, it means the Company will derive little revenue for nearly three months whilst incurring normal operating costs for this period. In addition to the above, in the lead-up to the forthcoming wet season and in light of the expanded scale of operations, the Company will stockpile around 2 million tonnes of diamond bearing ore on the run-of-mine (ROM) pads, at an estimated cost of over $10 million. Whilst processing of ore continues 24 hours a day all year round, there is no mining in the wet season months of January, February and March each year, thus necessitating the build up of ore stockpiles. In addition to the seasonal cost of the ore stockpile, significant quantities of diesel fuel, critical spares and other consumables will be purchased and stored prior to the wet season as the only access road, the Gibb River Road, is often impassable during the wet. This will temporarily absorb a further $5 million in working capital. The East Plant at Pipe 9 is currently shut down for the major upgrade from 2.2 million to 3.3 million tonnes per annum, which is expected to be complete by 7 December 2006. The final upgrade to 4.4 million tonnes is scheduled to occur by June 2007, taking combined production to 8.8 million tonnes thereafter and allowing the original 600,000 tonne per annum West Plant at Pipe 9 to be used as a bulk sampling plant for other regional pipes. Although production at 7.7 million tonnes per annum will not occur until mid-December 2006, total minesite operating cash costs have already dropped to approximately $13 per tonne processed in September and October 2006. Further reductions are anticipated. Over 50,000 tonnes of Bauer samples have been collected from drilling regional pipes 7, 10, 11, 12, 13 and 14. Bauer drilling has now also been completed at Pipe 9 and is about to commence at Pipe 4, followed by the 106 hectare Pipe 6. It will take until July 2007 to process all these samples. Based on current operating plans and cash flow forecasts, the Company does not anticipate needing to raise any further capital. ENDS Released by: On behalf of: Nicholas Read Miles Kennedy - Chairman Jan Hope & Partners Kimberley Diamond Company NL Telephone: (+61-8) 9388 1474 Telephone: (+61-8) 9321 5887 KIMBERLEY DIAMOND COMPANY NL ABN 91 061 899 634
  13. wind2close


    In reply to: Boyle on Sunday 19/11/06 12:21pm Going for a nice run on big volumes today and hoping for 3 cents on this? I hold W2C http://www.sharescene.com/html/emoticons/graduated.gif
  14. wind2close


    In reply to: Financial Chatter on Wednesday 15/11/06 01:15pm 15th November 2006 Market Release (via electronic lodgement) INCREASED GOLD RESOURCES - WHITE DAM GOLD PROJECT • New Vertigo Inferred Resource: 1.78 million tonnes @ 1.28g/t Au, containing 73,000 ounces • Total White Dam Gold Project resource increased by 28% to 330,400 ounces • Further resource potential to be tested at White Dam and White Dam North RESOURCE UPDATE Previous drilling at the Company’s 100%-owned White Dam Gold Project in South Australia identified the presence of additional mineralisation at both the Vertigo and White Dam deposits (as announced on the 28th of April 2006). Results at Vertigo, 800m south-west of the main White Dam deposit (see Figure 1), included the following significant intersections; • 14 meters @ 2.14g/t gold from 18 meters in VG058 • 12 meters @ 1.82g/t gold from 24 meters in VG061, and • 6 meters @ 3.44g/t gold from surface in VG065. Resource modelling incorporating geological interpretation, wireframing and geostatistical analysis of the Vertigo deposit has led to the completion of an inferred resource estimate containing: 1.78 million tonnes @ 1.28 g/t Au for 73,000 ounces The resource estimate was completed using ordinary kriging within two geologically and geochemically defined horizons which extend for over 350m east – west and 450m north – south. The mineralisation is still open and additional drilling is planned for the area with the aim to further increase the resource base. Further drilling will also be undertaken within the resource aimed at increasing confidence in the resource allowing conversion of some of the inferred resource into an indicated category. Extensional drilling at White Dam shows that the deposit is still open to the east (as announced on the 28th of April 2006), best results included; • 6 meters @ 1.96 g/t gold from 10 meters in WDRC295 • 2 meters @ 1.79 g/t gold from 16 meters in WDRC292 These results are very encouraging and additional drilling will be carried out with the aim of increasing the resource. The total project resource is now 9.1 Mt @ 1.13 g/t Au containing 330,400 ounces (Table 1). ~ 2 ~ Table 1: White Dam Gold Project Mineral Resource Estimate (0.5g/t cut-off grade applied at White Dam; 0.7g/t cut-off grade applied at Vertigo) Type Indicated Inferred Total Tonnes (T) Cut g/t Tonnes (T) Cut g/t Tonnes (T) Cut g/t Ounces White Dam Oxide 5,529,000 1.12 8,000 1.59 5,538,000 1.12 199,900 White Dam Fresh 493,000 1.13 1,288,000 0.96 1,781,000 1.01 57,600 Sub -Total 6, 022, 000 1.12 1,296,000 0.96 7,318,000 1.09 257,400 Vertigo 1,785,000 1.28 1,785,000 1.28 73,000 TOTAL 6, 022, 000 1.12 3,081,000 1.14 9,103,000 1.13 330,400 PROJECT UPDATE The mineralisation at both Vertigo and White Dam North occurs at shallow depths and has the potential to extend the life of the White Dam Project. Encouragingly, pPreliminary metallurgical test work on samples from Vertigo indicates good leaching characteristics with bottle roll leach tests across 21 samples from 9 holes averaging 84% recovery after 8 hours. The Company’s current plan at White Dam is to process an optimised in-pit oxide resource of 4.3 Mt with a grade of 1.25 g/t Au to produce a total of 115,000 ounces at a rate of approximately 50,000 ounces per annum. Further drilling and pit optimisations will be carried out over the Vertigo and White Dam North deposits with a view to adding ounces to the production schedule. Current work at White Dam is focused on finalising the water supply program. Good results have been achieved from preliminary testing of bore holes located at White Dam. Although unlikely to yield sufficient quantities to meet the total project water requirement, the Company is hopeful that on site sources will satisfy short term requirements enabling the project to start up and commission without the immediate need to develop a pipeline from a remote borefield. In conjunction with its consultants, the Company is finalising preparations for a second stage of water exploration on site at White Dam and at other target locations. FORWARD PROGRAMME Exploration drilling is expected to recommence shortly to further evaluate both the Vertigo and White Dam extensions as well as further drilling at White Dam north. Drilling of the water targets will resume shortly, pending the necessary permits and as soon as a suitable drilling rig can be secured. The company has continued to progress all other aspects of the project including preparation of the Mining and Rehabilitation Program, and refurbishment of the process plant acquired in August. Detailed project implementation planning is underway following the recent appointment of a Project Manager, and the Company remains committed to expediting development of the project, targeting gold production in the first half of 2007. On behalf of the Board of Exco Resources NL Michael Anderson Managing Director Information in this report relating to mineral resources and exploration results is based on data compiled by Mr Mike Dunbar, (who is a full time employee of the Mitchell River Group and a consultant to Exco Resources NL), and who is a member of The Australasian Institute of Mining and Metallurgy, and Mr Laurie Barnes (who is a full time employee of the Mitchell River Group and a consultant to Exco Resources NL), and who is a member of The Australian Institute of Geoscientists. Mr Barnes and Mr Dunbar have sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are undertaking to qualify as Competent Persons under the 2004 Edition of the Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Barnes & Mr Dunbar consent to the inclusion of the data in the form and context in which it appears Figure 1: Location of White Dam Gold Project
  15. wind2close


    In reply to: sturds on Wednesday 15/11/06 10:27am I hold at higher prices and will continue to hold for the short term. However, I hope that the news is positive very soon. Taking a look at the charts, support seems to be around the low 50's? Hopefully I'm wrong. W2C http://www.sharescene.com/html/emoticons/graduated.gif
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