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ARE, ARGONAUT RESOURCES NL
nipper
post Posted: Nov 28 2018, 10:50 AM
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In Reply To: blacksheep's post @ Nov 28 2018, 09:52 AM

Nearology indeed
QUOTE
... they possess the “exactly the same flavour” in geophysical signatures as BHP’s discovery...
- on verra - French for 'lol'



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
blacksheep
post Posted: Nov 28 2018, 09:52 AM
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In Reply To: blacksheep's post @ Nov 27 2018, 02:15 PM

Argonaut soars on nearology
QUOTE
Today’s news sent nearby copper explorer Argonaut Resources (ASX: ARE) soaring with the company attracting a speeding ticket from the ASX after its share price sky-rocketed more than 30% during trade from $0.018 to a high of $0.024.

Commenting on BHP’s find, Argonaut chief executive officer Lindsay Owler said it was a “spectacular discovery” and could possibly rival BHP’s own Olympic Dam mine if the size and processing economics were right.

He said the 180m at 6% copper was one of the “longest highest-grade hits” the copper industry has seen in a long time.

“The hole ended in mineralisation so who knows how long that total intercept of 425.7m could actually turn out to be.”

IOCG’s geophysical signatures
Mr Owler is particularly interested in the geophysical signature of BHP’s discovery, which he said has similarities to Argonaut’s own anomalies within its Torrens copper project about 40km away.

“With these South Australian-style iron-oxide, copper, gold (IOCG) orebodies, they all start off having the iron component being magnetite, which has a strong magnetic signal and is also dense,” he explained.

“Then, in the alteration process, which brings in the copper mineralisation that magnetitic iron is converted to haematitic iron and the copper comes in.”

“Hematite is an iron mineral that’s entirely nonmagnetic, but it’s still dense. So, in searching for IOCGs, you are looking for areas that were previously magnetic and have been converted into density-only or gravity-only anomalies,” Mr Owler noted.

He added they were often in proximity to magnetitic bodies.

Mr Owler pointed out that Argonaut’s Murdie and West Lake Torrens prospects, within the Torrens project, were of particular interest because they possess the “exactly the same flavour” in geophysical signatures as BHP’s discovery.

Olympic province explorers
Aeris Resources (ASX: AIS) owns a 70% interest in the Torrens project, with Argonaut’s holding the other 30%.

Torrens is about 75km from Olympic Dam. Previous drilling at the project returned 246m at 0.1% copper.

In 2019, the joint venture plans to carry out drilling over the next two years.

Aeris also rocketed on news of BHP’s discovery ending the day at $0.16 – up almost 27%.

In addition to BHP, Argonaut and Aeris, the Olympic province is home to other IOCG explorers including OZ Minerals’ (ASX: OZL), which owns the Prominent Hill mine and the advanced and Carrapateena project, which is under construction.

Rex Minerals (ASX: RXM) is progressing the Hillside project where an extended feasibility study and a Chinese feasibility study are nearing completion.

Once the copper market improves and the studies have been completed, Rex is looking to finance and develop the project.

Red Metal (ASX: RDM) has the Punt Hill and Pernatty Lagoon joint venture with OZ Minerals. A maiden 6,000m drilling campaign is underway to test six targets.

Not to be left behind, Cohiba Minerals (ASX: CHK) has begun reviewing its Pernatty and Peninsular projects in the province after Red Metal and OZ Minerals kicked-off drilling at adjacent tenements.

Cohiba said it has been encouraged by preliminary geochemcial sampling results.

Meanwhile, BHP’s own Olympic Dam mine in the area is known as one of the world’s largest multi-mineral deposits and is projected to produce around 180,000t of copper in the 2019 financial year.

https://smallcaps.com.au/bhp-rio-tinto-majo...ar-olympic-dam/



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The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
blacksheep
post Posted: Nov 27 2018, 02:15 PM
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ARE received a speeding ticket today - here's their response

QUOTE
The Company notes the ASX announcement made by BHP today titled “BHP copper exploration
program update” announcing the potential identification of a new iron oxide, copper gold mineralised
system in the Olympic IOCG Province. A copy of the announcement can be found on the ASX
markets announcement platform using the following link:
https://www.asx.com.au/asxpdf/20181127/pdf/...nhy97knh83z.pdf

The Company’s Lake Torrens tenements are in same Olympic IOCG Province, nearby to this
discovery. The Company previously announced that a major program of drilling at the Torrens
anomaly to similar depths as BHP’s discovery drilling is imminent. We are of the opinion that the
announcement of BHP’s discovery in combination with near-term commencement of Argonaut’s
drilling is likely to have have influenced the prices and trading volumes of the shares of the Company.

The Company is not aware of any other information apart from this in relation to the recent trading
in its securities

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--------------------
The herd instinct among forecasters makes sheep look like independent thinkers. Edgar Fiedler

If the freedom of speech is taken away then dumb and silent we may be led, like sheep to the slaughter. George Washington
 
bg99
post Posted: Jul 27 2018, 05:52 PM
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In Reply To: NPH's post @ Jul 27 2018, 11:44 AM

You have done well...it pretty much got to your valuation NPH. !
I was out and should have been watching todau, but am probably just going to hold my lot and hope they run a decent drilling campaign.

 
NPH
post Posted: Jul 27 2018, 11:44 AM
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In Reply To: bg99's post @ Jul 27 2018, 08:56 AM

100% in a week too good not to take, so out of AIS for now.
Probably a little over stretched and will look to re-enter mid-low 20s on any pullback. I feel a lot of traders buying the breakout, and stops will be triggered over next few weeks. Torrens has history of delays and missing drilling guidance. Lots of moving parts to heli supported drill campaign.

 
bg99
post Posted: Jul 27 2018, 08:56 AM
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In Reply To: NPH's post @ Jul 26 2018, 05:59 PM

Thanks for that NPH

I got the market cap wrong though. Number of shares fully diluted for convertible notes and incentive options is actually 467m shares.
Multiplied by closing share price 0.215 gives a current MC of $100m.
Also their FY19 is this FY not next...... so drilling should start in next 6 months at Torrens, not in 12-18 months per my previous post.










 

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NPH
post Posted: Jul 26 2018, 05:59 PM
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In Reply To: bg99's post @ Jul 26 2018, 04:42 PM

Thanks bg99
I picked up holding at 0.15
Current MC doesn't even value the remaining 5 years LOM. Torrens gives exposure to a 10+ bagger on the upside. Asymmetric risk, love it!

ASSET VALUATION
A$m A$/sh
Tritton (npv 10%) 127 0.27
Corporate -19 -0.04
Hedging 1 0.00
Tax losses 20 0.04
Exploration 20 0.04
Torrens JV 35 0.07
Debt -40 -0.09
Working Capital -24 -0.05
Cash 25 0.05
Total @ 10% 146 0.31

 
bg99
post Posted: Jul 26 2018, 04:42 PM
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In Reply To: bg99's post @ Feb 19 2018, 11:37 AM

ARE/AIS both on the hop.... would be due to ann from the 17/7 I would expect

https://newswire.iguana2.com/af5f4d73c1a54a...FIED_AT_TORRENS

According to the AIS Company update

https://newswire.iguana2.com/af5f4d73c1a54a..._COMPANY_UPDATE

drilling is still at least a year away though "quote"

• Drilling to commence in first half of FY19:
– Staged drill campaign
– Stage 1 drill program targeting 8-10 priority targets
– 20-30 holes 700m to 1500m below surface
– 18-24 month program
– Drill results to be released periodically– Aeris FY19 budget of A$3.5m (total JV budget
A$5m)

with AIS market cap $49m (70% ownership) and ARE $35m (30%), these could end up being 10 baggers over a few years.......as usual dyor

 
bg99
post Posted: Feb 19 2018, 11:37 AM
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In Reply To: bg99's post @ Dec 5 2017, 10:30 AM

good news for ARE/AIS

https://newswire.iguana2.com/af5f4d73c1a54a...ROJECT_RECEIVED

 
bg99
post Posted: Dec 5 2017, 10:30 AM
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In Reply To: bg99's post @ Nov 29 2017, 09:48 PM

someone yesterday liked the news.... ARE sitting just under resistance of 34c now
AIS pushed through resistance at 0.085 but with a bit of a gap today..... 70% owner of main Torrens permit
bit of excitement in RXM too..... SA copper explorers getting a bit of interest

couldn't get image attachment to work so will have to check your own charts

 
 


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