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ALK - ALKANE RESOURCES LIMITED


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http://www.brr.com.au/site/images/partners/sharescene-logo.jpg

 

Recent ShareScene.com Radio Broadcast (Tue, 23 May 2006 2:00PM):

 

ALK - Update on Gold Projects - Mr Ian Chalmers, Executive Director

 

N.B. ShareScene.com Radio can normally be accessed by the 'RADIO' link, top of every page.

 

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ShareScene.com Radio delivers investor presentations from ASX listed companies. Keep up to date with the latest corporate dealings of the shares you follow. Hear news direct from the source. Listen to directors and investor relations mangers discuss their company, give investor updates and brief on current results. ShareScene.com Radio keeps you informed about company announcements and events, and provides you daily market wraps and industry discussions.

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  • 3 months later...

Recent and strong SP activity, and scuttlebutt, would suggest that ALK might just be ready to fly. The board is now run by the same team that runs AGS, and No. 1 AGS Shareholder Ian Gandel is the new money man behind the board changes at ALK.

I've followed AGS for a few years now, and it is certainly a well oiled, knowledgable and ethical board and they do everything right, so I'd be expecting another solid rise, and claim to fame here for ALK.

ALK has always had the goods in the ground, but lacked the muscle and expertise to go any further with it - I'd suggest thats all changed now!

On board long and looking forward to a yellow brick road ahead!

wrxsti

 

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In reply to: Bazza on Tuesday 12/09/06 04:24pm

 

Just following the whispers in the willows Bazza.

Kennedy and Cornelius now well and truly on the outer and the AGS/Gandel crew are calling the shots - no more free lunches at Romany's on the shareholders here!

Got the nod 6-8 weeks ago and been watching the events transpire.

In big, in long, and looking forward to a remake of 'The Flight of the Phoenix' here.

As for the marriage comparison, would certainly agree on past performances - but with AGS as the new girlfriend, albeit incestuous, ALK is destined to do much, much better this time around.

wrxsti

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Letter to Old Dryblower, From MiningNews Net. - Alkane's response.

 

 

As the author of Monday's Alkane announcement entitled Significant Gold Intersections from the McPhillamys Discovery, I graciously accept the Another Day in the Office Award offered by a nameless Alkane shareholder, because in reality, that's exactly what it is.....

 

Letter

 

As a reader of your column for a number of years, it is my understanding it's your occasional practice to hand out the odd prize for under/over or sideways achievement by various companies and individuals within the industry.

 

With this in mind, I would like to draw your attention to a recent market announcement by Alkane Exploration, dated October 23, 2006, and was wondering if you have a "How to make a major new discovery sound like just another day at the office" award.

 

Although I carry no formal qualifications in mining or geology, as a long-time observer and small-time investor I would have considered the reported result of 123m at 1.96 grams per tonne gold from 0m to represent a pretty major discovery on what is apparently virgin exploration ground.

 

In the context of an age in which the Aussie mining junior has learned to "spruik-or-sink", and in the middle of a heady resources boom, I find it both bizarre and remarkable that Alkane has managed to scale and reach new heights in announcement sobriety. What appears to my (admittedly untrained) eye as a fabulous discovery that any gold junior, or indeed gold major, would give his back teeth for, has instead been reported as "significant" and "not a thorough test". However, the sections and plans provided appear to leave little room for any other behaviour than the popping of champagne corks.

 

I have searched the Alkane website and annual reports in search of some "reverse share price performance options" that perhaps the boys at Alkane have pioneered as some form of explanation for the behaviour, but was left perplexed. What strange benefit do the directors of Alkane receive when their good work has no effect on their share price?

 

Perhaps I have grown too used to the slick, upbeat promotional style of standard junior company announcement, and perhaps the Alkane boys speak for a lost generation of gentlemanly, stiff-upper lip conservatism, but its bizarrely negative language for what appears to be fabulous new discovery appears "significant".

 

Sincerely but Confused,

 

 

Disclaimer: Name Withheld is an Alkane shareholder and isn't sure if he should be leaping with joy or committing harakiri.

 

Alkane's response ---

 

Luckily there are still quite a few of us "gentlemanly, stiff-upper lip conservatives" left in the industry (although my Irish and Scot ancestors might take offence at the stiff-upper lip bit) who believe in reporting the facts as they are at the time.

 

We do not subscribe to the school of thought that 20ppm uranium in a rock sample is a major discovery, nor the observation that the track through tenements, which has been sheeted with gravel, is a channel iron deposit. It is pity that many of our fellow explorers are encouraged to "spruik-or-sink" and it is greater shame that many industry analysts seem incapable of making that distinction between fact and fiction, and continue to back stories that are decidedly suspect.

 

We thought that "Significant Gold Intersections" was a pretty good summary of what was being reported on the day, and that the statement "... the results have confirmed that McPhillamys hosts a major mineralised system which extends over a 400m strike length, comprises at least two distinct gold-bearing zones which are up to 50 to 100m wide and extend from the ground surface to at least 150m vertical depth" was a reasonable assessment of the level of data we have from a handful of RC drill holes and one core hole.

 

Hardly bizarre or negative language, but enough information for any informed reader to assess how significant or otherwise this discovery might be.

 

Anyway, I've just noticed that the sun-is-over-the-yard-arm, so I can retreat to the veranda of the office and sip G&Ts for the remainder of the afternoon.

 

Kind regards

Ian Chalmers

Managing Director

Alkane Exploration Ltd

 

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