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PMH, PPACMAG METALS LIMITED
DAVIDB75
post Posted: Dec 16 2009, 02:25 PM
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In Reply To: DAVIDB75's post @ Sep 16 2009, 05:30 PM

I have just read about the Entree gold offer (ETG) for PMH, so we are getting ETG shares (listed in Canada) and 4.3c cash. My first thoughts are;
1. I think the excellent leverage PMH provided is now diluted a lot
2. I did not really want to own Canadian shares
3. 33c australian is an opportunistic price for PMH and does not reflect a reasonable premium for the intrinsic value of the company
4. My average cost is just under the offer, so I have to wait with a Canadian share (+ increased currency conversion and transaction costs) to make a return - disappointing.
5. probably less risk and volatility holding ETG shares, which is a bigger company.

On balance, this seems to be another case of an australian takeover target selling too cheaply, adding to a list of personal experiences.

Anyone have a more encouraging take on this?

 
DAVIDB75
post Posted: Sep 16 2009, 05:30 PM
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In Reply To: Talonbands's post @ Sep 1 2009, 03:02 PM

In the scoping study for Ann Mason, I thought they attributed a NPV, it was extremely high as I recall, obviously no-one believes it is going to be monetized any time soon!

 
Talonbands
post Posted: Sep 1 2009, 03:02 PM
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In Reply To: DAVIDB75's post @ Sep 1 2009, 02:22 PM

I have been trying to work out a NPV for the copper at Ann Mason and what it is worth per share. Everything else might be a bonus.

 
DAVIDB75
post Posted: Sep 1 2009, 02:22 PM
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In Reply To: donnaleighh's post @ Nov 25 2008, 12:15 PM

Re: results of Sentinel project drilling

Does anyone know what a net present value of these types of germanium, uranium and molybdenum might be?

The SP looks like its responding positively.

Also Shamrock results look 'encouraging' as they say, the value of this company must be a large multiple of the current market cap, as long as they can survive.

 
donnaleighh
post Posted: Nov 25 2008, 12:15 PM
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In reply to: donnaleighh on Tuesday 09/09/08 12:17pm

From Business Speculator re yesterdays ann... Cheers, DL

PacMag triples Sentinel uranium grades

PacMag Metals Ltd says it has demonstrated that uranium mineralisation from its Sentinel project in North Dakota, US, is amenable to beneficiation (upgrading prior to processing) as well as having high leach recoveries with corresponding modest acid consumption.

The samples were taken from the Church uranium-germanium-molybdenum deposit. The testwork shows a pre-leaching beneficiation step increases the uranium grade by two to three times, with a corresponding half to one-third reduction in the weight of the material requiring subsequent acid leaching.

Uranium leach recoveries average 92%.

Further metallurgical testwork is ongoing to assess the molybdenum and germanium recoveries, processing options, refine the existing methods as well as to provide initial cost estimates for future financial modelling.

http://www.businessspectator.com.au/bs.nsf...erts&loc=center

 
donnaleighh
post Posted: Sep 9 2008, 12:17 PM
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Nice enough response (up 4c) to todays annoucement re Germanium and Moly assays at Sentinel - with further assays pending in about 4 weeks.

Like the increasing confidence with which PMH talks about Sentinel and clearly articulated plans to commence environmental studies later in the year and plans for resource estimate in 4th quarter.

Interesting to compare to the markets lack of response to the Blue Hills results last week - which in themselves were good and indicate that insitu leaching is a possible start up opportunity around the Ann Mason assets - nice to see that this may be a possibility given the massive size of resource and capex in the event they decide to go underground!

Looks like possibilities for both assets are becoming alot clearer. DL

 


donnaleighh
post Posted: Aug 28 2008, 02:41 PM
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In reply to: DAVIDB75 on Thursday 28/08/08 12:58pm

Cheers David... good to have you here! This is always a quiet thread with long termers sitting in the wings I sense!

Ya the figures look interesting and the PMH Project Manager (spruiker? tongue.gif ) seems to be very positive about it... although I don't know anything about Germanium really, especially anything related to the extraction and economics thereof... maybe someone else does?

Anyway, we all know we are sitting on alot more than Sentinel! smile.gif

What I find interesting in recent months since PMH acquired Sentinel is the volume of local US press surrounding it. There is always good coverage whenever there is new news on the project and also surrounding public consultations which were undertaken last month. Given this is likely to be the first mine of this nature in the area, the use of media to keep the public informed as the project emerges looks like a good PR strategy - especially if the go ahead to move to exploration on public lands goes ahead in the next couple of weeks.

Anyway, lots of hits this week in the States and I will try and post some more when I am back in Oz and caught up next week. In the meantime, here's one more I picked up from (NY Times) International Herald Tribune this am! Cheers, Donna

"Significant find of mineral used in optic cables"

http://www.iht.com/articles/ap/2008/08/27/...manium-Find.php

BISMARCK, North Dakota: A large and valuable deposit of high-grade germanium, a scarce silicon-like mineral used to make semiconductors and fiber optic cables, has been uncovered by an Australian company.

A consultant says it may be the first time a "significant" germanium deposit has been found in a coal seam in North America.

Formation Resources Inc., of Bismarck, a newly formed unit of PacMag Metals Ltd.,, based in West Perth, Australia, was granted a state permit in April to drill about 600 test holes for uranium in southwestern North Dakota. After completing 336 test holes, the company found germanium.

China and Russia mine germanium from coal seams, said Jim Guilinger, a PacMag consultant and president of Arvada, Colorado-based World Industrial Minerals.

"It's a major find in our mind, and it's definitely a whole new wrinkle on the project," Guilinger said. "It's a lot more rare than uranium."

Guilinger said PacMag Metals tested for germanium because of a brief mention in state documents studied by company officials.

"There was a reference in a geological survey from the early 1950s that mentioned evidence of germanium in the same area where we are drilling for uranium," Guilinger said. "We looked for it, and sure enough, it was there."

The U.S. has never had a germanium mine, Guilinger said.

The United States used 66 tons of germanium last year, up from 22 tons in 2003, the U.S. Geological Survey says. But its domestic production of imported germanium has remained flat over the past five years at about 5 tons, the agency said.

Germanium in the U.S. comes from imported material, or from scrap. It is recovered as a byproduct from zinc mines in Alaska and Washington state, and is processed domestically at refineries in Oklahoma and New York, according to the USGS.

 
DAVIDB75
post Posted: Aug 28 2008, 12:58 PM
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In reply to: donnaleighh on Thursday 28/08/08 10:06am

Thanks a lot for that Donna, I like the sound of it! $1500/kg and short supply makes for yet another very valuable resource held by PMH. David

 
donnaleighh
post Posted: Aug 28 2008, 10:06 AM
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Here's some more out of the US last night - regular coverage now in local media in N and S Dakota re PMH activities. Cheers, DL

"Company finds scarce mineral in ND coal seam"

http://www.jamestownsun.com/ap/index.cfm?p...ew&id=D92Q7UMO0



 
donnaleighh
post Posted: Aug 26 2008, 08:42 PM
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In reply to: DAVIDB75 on Monday 28/07/08 12:12pm

Hiya David - nice to see you here - have been OS for work for the last 4 weeks and still on the road, so not so much net access, picked this one up tonight - lots of info in the Dakota press these days about developments in Sentinel.

Agree re intrinsic value and rate of expansion of assetts, have alot of faith in management that when deals are done they will be in our favour - see the goal as working up as significant assets as possible for best SH value. Be me posted ya! Donna

http://www.redorbit.com/news/business/1532...ults_excellent/

Uranium Coring Results 'Excellent'
Posted on: Monday, 25 August 2008, 12:01 CDT By LAUREN DONOVAN

An Australian company coring for uranium in southwestern North Dakota says preliminary results are excellent.

PacMag Metals, which formed Formation Resources in North Dakota to do business here, posted its findings on its company Web site Thursday.

Its initial report based on samples from 12 holes found a high percentage of U3O8 uranium at depths of less than 70 feet.

Project manager Joe Guilinger said the uranium results "look very good," but finding good percentages of molybdenum and germanium in the same samples makes the project even more enticing.

Germanium is a very rare elemental metal that has applications in solar cells and electrical conductivity. Guilinger said the company wouldn't have known to look for germanium except for a fleeting reference to it in an old geological survey document.

The company will continue to test more of the 330 core samplings it has taken, plus metallurgical samplings from six trenches, all on private land in Billings County southwest of Belfield. Then it can estimate the size of the uranium resource, as well as germanium and molybdenum - used to strengthen steel - and move toward environmental assessments later this year.

PacMag's Formation Resources is the only company with a uranium exploration permit in North Dakota. There has been other interest because of a surge in the price and renewed interest in nuclear energy.

It has 25,000 private acres under lease and is continuing to negotiate for more, the report says.

Guilinger said the company has also received "preliminary word" that it can prospect for uranium on the Little Missouri National Grasslands in Slope County, possibly as soon as September. The U.S. Forest Service reviewed the request and will authorize it, with conditions, he said.

PacMag-Formation Resources plans to open-pit mine for uranium, digging down to the uraniferous coal seams.

It would process the uranium into yellowcake at some rail loading location in western North Dakota, Guilinger said.

The mining and extraction would likely involve the Public Service Commission, the Nuclear Regulatory Commission and the State Health Department, said PSC's mine director Jim Deutsch.

Ed Murphy, state geologist, said PacMag's public notice of its results is required by the Australian government.

Here, the same information - like a wildcat oil well - would remain in confidential status for at least a year, he said.

"It's kind of surprising to have this information," Murphy said.

(Reach reporter Lauren Donovan at 888-303-5511 or lauren@westriv.com.)
© 2008 Bismarck Tribune. Provided by ProQuest LLC. All rights Reserved.
Source: Bismarck Tribune


 
 


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