Registered Members Login:
   
Forgotten Your Details? Click Here To Recover +
Welcome To The ShareCafe Community - Talk Shares And Take Stock With Smart Investors - New Here? Click To Register >

436 Pages (Click to Jump) V  < 1 2 3 4 5 6 7 > »    
 
  
Reply to this topic

SAU, SOUTHERN GOLD LIMITED
bam_bamm
post Posted: Dec 9 2013, 07:50 AM
  Quote Post


Posts: 3,724
Thanks: 585


In Reply To: bam_bamm's post @ Dec 6 2013, 10:35 AM

40% was being a bit optimistic. Only a 13% take up. Ouch.



--------------------


 
bam_bamm
post Posted: Dec 6 2013, 10:35 AM
  Quote Post


Posts: 3,724
Thanks: 585


In Reply To: bam_bamm's post @ Nov 12 2013, 09:50 AM

Should get notice of the shortfall from the rights issue.
I cant imagine it being overly successfull. 40% perhaps?



--------------------


 
bam_bamm
post Posted: Nov 12 2013, 09:50 AM
  Quote Post


Posts: 3,724
Thanks: 585


Rights Issue at 1.5c announced last week, closes 3 December 2013.

$2million to be raised, to progress site works for possible production 1H 2014, and further drilling.

The MD will partially underwrite the issue, to the tune of 7 million shares, ($105k).

With the share price falling below the issue price (currently 1.2c and back to yearly lows) I cant see this raising being overly successful.
I would like confirmation of finance being obtained from a reputable outfit before committing further funds to SAU. Talks with potential financiers has been ongoing for a while now, and I doubt a deal will be stitched up before the closing date. AGM next thursday, so will perhaps get a further update then.

Management have severly reduced overheads, and have even been taking shares as salary in lieu of cash for the last 3 months of this year.

slick, got any comments mate? I feel lonely in here lol



--------------------


 
bam_bamm
post Posted: Oct 1 2013, 02:57 PM
  Quote Post


Posts: 3,724
Thanks: 585


In Reply To: flower's post @ Oct 1 2013, 02:53 PM

QUOTE
Have not checked any recent Q reports

QUOTE
Have no idea

QUOTE
Should SAU be on the cusp of production, lets say in production by Christmas..


No offence flower, but if you are going to make any comments, maybe its best to do some research.
The questions were asked in the SAU thread, not in a generic Gold thread.

I did give a bit of background info in my initial post that I thought might help with a response.
Not to worry, thanks anyway.



--------------------


 
flower
post Posted: Oct 1 2013, 02:53 PM
  Quote Post


Posts: 12,991
Thanks: 1105


In Reply To: bam_bamm's post @ Oct 1 2013, 12:34 PM

Production seems on the cards, and was asking for feedback on the resource, how attractive it might be to others etc.
Have not checked any recent Q reports, so the first questions are: How close is production? Is the whole exercise fully funded?

Attractive to others: Have no idea, at first glance it seems far too smaller a resource base to be of any interest in this climate. Go through the next Q report due by end of October with a fine tooth comb--that should give you a clue

You mention that there is likely to be few survivors in the hopeful category. I would be pleased to hear what you would constitute potential survivor material in the current climate.
Should SAU be on the cusp of production, lets say in production by Christmas, you would want to be sure the plant has been commissioned and runs smoothly on testing. If however SAU is realistically years from production it would fall into the explorer area, in which case to survive it needs one years cash burn at the very minimum in the bank right now, since fund raising today for hopefuls is well nigh impossible.

The last Q report, which may help is here:
http://www.asx.com.au/asx/statistics/displ...;idsId=01429451




--------------------
Combining Fundamental comments with Fundamental charts.
 
bam_bamm
post Posted: Oct 1 2013, 12:34 PM
  Quote Post


Posts: 3,724
Thanks: 585


In Reply To: flower's post @ Oct 1 2013, 11:46 AM

thanks for your thoughts flower.
I dont really think the chart is relevant for the questions I asked, but thanks anyway.

Production seems on the cards, and was asking for feedback on the resource, how attractive it might be to others etc.

You mention that there is likely to be few survivors in the hopeful category. I would be pleased to hear what you would constitute potential survivor material in the current climate.



--------------------


 

sentifi.com

Share Cafe Sentifi Top themes and market attention on:


flower
post Posted: Oct 1 2013, 11:46 AM
  Quote Post


Posts: 12,991
Thanks: 1105


In Reply To: bam_bamm's post @ Oct 1 2013, 11:24 AM

QUOTE
It's been 4 weeks since the PFS on the Cannon gold resource was released (30 km's from Kalgoorlie). I guess the company is still assessing options for financing the project, as we havent heard any further details. Personally, I would love to see mine operations begin in early 2014 as indicated.

I've been thinking about increasing my stake in the company, and am now trying to talk myself out of it.


Hi bb---whilst I am not qualified to give advice since I hold no licences, if it were me I would talk myself out of this. Just to look at the chart since flotation (presumably) it's a horror story.

IMO there are going to be few survivors out of the "producer hopefuls" in this current environment, in short there are far better prospects unless you have bought at these levels and are just looking for a quick turn.

Chart in reality sais it all:
Attached thumbnail(s)
Attached Image


 




--------------------
Combining Fundamental comments with Fundamental charts.
 
bam_bamm
post Posted: Oct 1 2013, 11:24 AM
  Quote Post


Posts: 3,724
Thanks: 585


It's been 4 weeks since the PFS on the Cannon gold resource was released (30 km's from Kalgoorlie). I guess the company is still assessing options for financing the project, as we havent heard any further details. Personally, I would love to see mine operations begin in early 2014 as indicated.

I've been thinking about increasing my stake in the company, and am now trying to talk myself out of it.

The gold resource is a small one (68,200 oz's) but the grades seem to be fairly high at an average of 4.4 g/t. Costs are indicated at being approximately A$1,051.

I havent looked to closely at a lot of large gold producers, but some reports I have read lately suggest that a lot of them have embarked on high grading over the past few years, during the spot volatility and wild exchange rate fluctuations. This has resulted in their in-ground reserves being more expensive to mine.

SAU's costs are reasonably low, and they seem to be able to toll treat the resource, and able to get it into production quite quickly.

The Cannon resource is 100% owned by SAU, which makes the resource more attractive for a takeover.

If it's true that a lot of producers have high graded recently, and are looking at costs rising to mine less oz's, how attractive is the Cannon resource, or even SAU as a whole? SAU are trading near all time lows, and are close to production, provided that attractive finance options are available. Sitting duck, or can they finally become a gold producer and reward long time shareholders?

Any thoughts?



--------------------


 
bam_bamm
post Posted: Sep 16 2013, 01:18 PM
  Quote Post


Posts: 3,724
Thanks: 585


WA Mining Jobs - Gold Strike Near Kalgoorlie

QUOTE
Have you been looking to Western Australian to score a gold mining job?Southern Gold is a company to watch closely as it plans to begin operations at its Cannon resource, part of the world-class Bulong Gold Project in Western Australia.

The company has announced its planning to forge ahead with the development of its Cannon gold deposit. Southern Gold *(ASX:SAU) has stated its recent exploration results revealed immense potential to unlock huge gold supplies, which could mean more WA mining jobs.


The Bulong Gold Project can be found around 30km east of the famed Kalgoorlie goldfields in WA. The Cannon resource, which had been previously under-explored, shows immense gold mining potential. The close proximity to the nearby infrastructure and processing facilities around Kalgoorlie, has added to Southern Gold’s enthusiasm about further developing the Bulong Gold Project and its Cannon resource.

When the project commences, Southern Gold will need WA gold mining jobs filled to service the entire mining and processing operational needs in the project.


Southern Gold’s board of directors gave project approval after positive drilling results were conducted on the Cannon gold resources. This project is scheduled to begin around the middle of 2014 and although Southern Gold haven’t disclosed the numbers of mining job vacancies that need to be filled. If you’re thinking to yourself you’s like to look at a career in gold mining in WA, it would be a smart move to invest in the necessary mining training now, so you’re mine ready when the jobs are advertised.

As a sign of commitment towards the implementation of this project, Southern Gold is gearing up to be cash-positive, securing additional finance, as well as obtaining regulatory approval. Southern Gold has completed all the heritage and environmental surveys. This means that regulatory approval could be quicker than expected.


It’s expected the Cannon gold mining project has a mine life of three years with an expectation of around 68,000 ounces of gold being produced throughout this period.

It is also important to note that data shows there is a evidence that there could be further gold deposits – which means a strong possibility of a continuous flow of WA mining jobs within the Bulong Gold Project.


Southern Gold’s managing director, Nanette Anderson projects tremendous growth for the mining company because it will have competitive advantage as a result of the gold deposits being close to the surface, easily accessible and less expensive to mine . The Cannon mine is also located near gold processing facilities and therefore the operating costs are expected to be significantly reduced.

The near-surface gold deposit location is one of the reasons as to why this project will be implemented using open pit and underground development strategy, therefore both above and underground mining jobs will need to be filled.
Financial estimates given by Southern Gold show that it will spend $11.7 million AUD in underground mine construction, $1.2 million AUD in road works and A$0.7 in drilling and mine site facilities. This type of financial investment is certain to bring about many WA mining jobs in both underground mining and open-pit mining operations.


I hope we can an announcement soon regarding financing this project.





--------------------



Said 'Thanks' for this post: 0007  
 
bam_bamm
post Posted: Aug 30 2013, 09:04 AM
  Quote Post


Posts: 3,724
Thanks: 585


In Reply To: bam_bamm's post @ Aug 29 2013, 03:08 PM

A few articles out overnight.

http://www.proactiveinvestors.com.au/compa...ject-47334.html

http://www.miningbusiness.net/content/sout...2014-mine-start



--------------------



Said 'Thanks' for this post: daggie  
 
 


436 Pages (Click to Jump) V  < 1 2 3 4 5 6 7 > » 

Back To Top Of Page
Reply to this topic


You agree through the use of ShareCafe, that you understand and accept the TERMS OF USE.


TERMS OF USE  -  CONTACT ADMIN  -  ADVERTISING