# EKM - Eleckra Mines



## YOUNG_TRADER (4 July 2006)

Spotted a new gold float listing today, managed to get under my radar, but then not such a bad thing as market may ignore it giving opportunity to pick up stock @ or less than 20c IPO price,


Has 60m Shares fully dilluted,
$6m or 10c per share cash
and a JORC Gold Deposit of 12.6Mt @ 1.8g/t for 740,000 oz's Gold

@ an EV value of say $25/oz = $18.5m + $6m cash = A good asset value of around $24m = 40c per share,


Thoughts?

I know gold has falllen a bit from favour, but its so hard to find good JORC holding companies, AVO has a similar sized deposit and commands a mkt cap of $50m- $75m

Float opens soon,


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## YOUNG_TRADER (4 July 2006)

*Re: EKM*

Just checked 12.30pm open,

I want some!


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## YOUNG_TRADER (4 July 2006)

Got me 100,000 @ 20c   

Sellers are gonna regret this selling,

@ 20c mkt cap = $12m fully diluted, removing the $6m of cash that allocates an EV of $6m to 740,000 oz's of gold or $8oz EV thats ridiculous!


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## watsonc (4 July 2006)

So what do you think the share price will be worth by the end of the month (July)??? 0.25c??? 0.30c???


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## YOUNG_TRADER (4 July 2006)

watsonc said:
			
		

> So what do you think the share price will be worth by the end of the month (July)??? 0.25c??? 0.30c???




What ever the mkt determines it to be,

I see fair value around $25m given $6m cash an 740,000oz's gold = 40cps

But we'll wait and see what the market thinks


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## utedog (7 July 2006)

Someone bought a nice chunk this morning at 10:34, half a million shares worth $110k at 22c a share.  I still have EKM on my to buy list..... Gold's creeping up again.....


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## YOUNG_TRADER (12 July 2006)

Not thats what I like to see!

They listed 1 week ago with 60m shares (only 30m tradeable)

Cash of $6m (good amount)

740koz's of JORC Gold (Excellent size)

And have already strated drilling,

I read somewhere that prior to listing they did some drilling which came up with some beefy intersections, be interesting to see what this new drilling confirms,

So cheap, so so cheap!


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## yogi-in-oz (2 September 2006)

Hi folks,

Let's set sail in the recently-launched EKM, for this week.

EKM has a current drilling programme and with some
positive time cycles this week, it would not be surprising
to see a breakout in the price ..... 

No EKM chart, as there's only limited data, as yet.

have a great weekend

yogi


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## pharaoh (3 September 2006)

Yogi, do you expect and announcements in the coming week(s)

If so any thoughts on when to expect results from say the Khan North project - where they are drilling to follow up high grade intercepts. 

I imagine if those results are good, that the sp should take a bit of a run
cheers


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## yogi-in-oz (3 September 2006)

pharaoh said:
			
		

> Yogi, do you expect and announcements in the coming week(s)
> 
> If so any thoughts on when to expect results from say the Khan North project - where they are drilling to follow up high grade intercepts.
> 
> ...




=====

Hi pharaoh,

EKM ... if there is a breakout this week, it will likely
be triggered by some positive news ..... yes???

happy days

 yogi


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## NettAssets (3 September 2006)

yogi-in-oz said:
			
		

> =====
> 
> Hi pharaoh,
> 
> ...




Hi Yogi

I don't think *Pharaoh *has quite understood yet that you study the entrails of chickens for your forecasts and not FA


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## Brasidas (8 November 2006)

Minesite.com article for you guys to read

Eleckra Mines Has An Enviable Position On The Yamarna Greenstone Belt In The Eastern Goldfields by Our Man in Oz 

Unfortunately it was not possible to get hold of Richard Harris, managing diorector of Eleckra Mines, as he was abroad, but it is quite clear that this company is forging ahead with its two gold projects in Western Australia since listing on the ASX in July. The most advanced of the two is the Yamarna project  situated on the eastern margin of the Archaean Yilgarn Craton some 140 kms east of Laverton and 900kms north east of Perth.  The company also has the Darkan project which consists of an exploration licence to the south east of Perth covering 190 sq kms of the southern extension of the Darkan Fault. It is situated to the south east of Perth and is also 60 kms south east of the Boddington gold-copper deposit with current reserves of 11 million ozs of gold currently at the development stage.  

The Archaean Yilgarn Craton itself  hosts numerous world class orebodies and accounts for over half of Australia's 8 million ozs of annual gold production.  Eleckra's tenements cover 3,000 sq kms which involves most of the Yamarna greenstone belt and portions of the adjacent Dorothy Hills and Mount Venn greenstone belts within the Eastern Goldfields. The project has resources in all three categories amounting to 12.6 million tonnes grading an average of 1.8 g/t  to give 740,000 ozs of gold.  It is also prospective for copper, nickel, chrome, platinum group elements and uranium so some interesting by-plays may materialise.

Yamarna is one of the last greenstone belts in Western Australia that has not received the intensive exploration commonly seen in other similar belts. This is strange as it is not too far from the Laverton greenstone belt which boasts total resources of 25 million ounces of gold, Yandal with 19 million ounces and Leonora with 12 million ounces.  In fact about half of the Attila regional fault, with a strike length of 180 kms, has never been drilled at all and Eleckra has already confirmed that it numerous coincident structural and geochemical targets to follow up. A strong plus for the company lies in the fact that the fault system at Yamarna is part of a deep crustal suture, similar to the fault systems at the adjacent Laverton belt and Leonora belt to the west, which both host world class gold mines.

Richard Harris, who is very much alive unlike the famous actor of that name, has developed a two part exploration strategy.  The primary focus will be to explore the tenements with a view to discovering gold deposits that can be developed and, at the moment, there are fifteen structural and geochemical targets that warrant early drill testing. Second, Eleckra wants to build on its resource base to a sufficient size and grade to justify mine development at an early stage and, to this end, infill and extensional drilling will be carried out on high grade positions within the Attila/Alaric resource area and the Khan North and Breelya prospects. Revised scoping studies are also planned at Yamarna North to test whether a mining operation could prove economic. 

It is quite possible that  joint ventures will be negotiated if metals other than gold prove to be sufficiently attractive.  Provided companies with proven expertise in the prospective target metal can be found this will limit the financial and geological risk as far as Eleckra is concerned. By way of example, a section of the Thatcher Soak uranium prospect and sections of the anomalous calcrete drainage channel extend onto the Yamarna Project tenements.  The company hopes to test the potential for possible economic uranium resources at Thatcher's Soak with a modest exploration drill program in its own right to get an idea of value before farming out the uranium rights.

The present state of play at Yamarna is that several deposits have been located within a 14km strike length of the Attila-Alaric line of mineralisation. A follow-up reverse circulation drilling programme will start later this month  as the results from the initial drill programme were very encouraging with 90 per cent of the holes encountering  anomalous gold mineralization grading better than 1 g/t. The best results included 3 metres at 9.36 g/t from 68 metres at Attila North, 6 metres at 5.45 g/t from 53 metres at Attila and 3 metres at 4.58 g/t  fropm 24 metres at Alaric. Thus deeper drilling at Attila has shown the potential for extensions at depth which were missed by previous shallow drilling and the gold mineralization at Attila now extends along strike to the north. The southern strike extension of the Attila North deposit has also been confirmed, so there should be more good news before long.


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## YOUNG_TRADER (16 February 2007)

*EKM*
*
Mkt Structure*
*
Shares*
60m +6.5m 20c options
So 65m fully diluted
Mkt Cap @ 30c = $20
Mkt Cap @ 40c = $26m
Mkt Cap @ 50c = $33m
*
Cash*
$3.2m + $1.3m from opies = *$4.5m*


*
Projects*
*
Yamarna* Gold, 100%, W.A.
Old JORC of 12.6Mt@1.8g/t Au = *740koz's Gold*

Due to be up graded by mid year (expect 50-75% increase)

*At $25 EV/oz Gold resource = $18.5m*
*

Thatchers Soak * Uranium, 100%, W.A.

This is the extension of Uranex's (UNX) Thatcher Soak deposit,

Drilling has found mulitple from surface 1-3m intercepts of 200-300ppm U, very low but FROM SURFACE!

They are looking at options to maximise value here,

SPEC Value around $5m

Also has 2 other Licences

*
Summary*
*Cash including options exercised = $4.5m
Yamarna Gold EV@ $25/oz Gold  = $18.5m
Spec Value of Uranium Project   =  $5m

Total rough value = $28m = 42.5cps EKM*

Cheers


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## YOUNG_TRADER (16 February 2007)

Am surprised that theres still no follow up comments,

Having cleared and now held 30c the stock looks ready to explode


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## bigt (16 February 2007)

Bid: 32.5
Ask: 48

35000 for sale..!   

About to go off alright, but not at that spread!


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## petervan (16 February 2007)

is this company drilling now or is there some other news coming out.no sellers anywhere.


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## YOUNG_TRADER (16 February 2007)

petervan said:
			
		

> is this company drilling now or is there some other news coming out.no sellers anywhere.




I'm guessing that they're going to spin out their U Assets, (just like every other AUS U company) in which case the U assets Spec Value would increase from $5m to probably $10m

If you read latest qtrly they kept talking about "maximising Uranium Projects value"

Thoughts?


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## petervan (16 February 2007)

maximising uranium project value. i am sure they get some spin out of that in the current market. long way up long way down.


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## YOUNG_TRADER (18 February 2007)

Will be very interesting to see EKM's performance thise week,

Hardly any sellers came out of the woodwork on Friday to sell into rise,

I know for a fact that Hartley's in Perth are a big believer of the story and have been accumulating EKM for awhile now, just like BCN and JML.


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## nomore4s (18 February 2007)

YOUNG_TRADER said:
			
		

> Will be very interesting to see EKM's performance thise week,
> 
> Hardly any sellers came out of the woodwork on Friday to sell into rise,
> 
> I know for a fact that Hartley's in Perth are a big believer of the story and have been accumulating EKM for awhile now, just like BCN and JML.




Is looking good on Moses SMA chart as well. I don't hold yet as I've just noticed it & have been doing research on them, hope I can get in now not many sellers.


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## moses (18 February 2007)

YOUNG_TRADER said:
			
		

> Will be very interesting to see EKM's performance thise week



Astronomical is the word.

Shame I'm not in (I missed your posts). Monday looks downright silly.


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## YOUNG_TRADER (19 February 2007)

Buyers not willing to keep going up and sellers practically non-existant, somethings gotta give


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## moses (22 February 2007)

In retrospect, this stock is a little too thinly traded to think it will explode overnight. I now suspect the SP will fall a little before its next move up. The pressure is still there, so I'll hold.


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## YOUNG_TRADER (22 February 2007)

I've been told that Hartleys own 80%+ of the stock (ie through Insto's and clong term clients) they will continue to just soak up stock at reasonable levels, ie they will not chase it up,

What this means is when the mkt wants in it will explode as there won't be enough stock available to feed the hungry buyers,

I'd say the catalyst for the mkt wanting it will be the "Value Maximisation of the U projects"


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## Reefer (13 April 2007)

This stock has a decent spread now. Up 7c on the day Buyer at 50c and Seller just come on at 98c. A few moments ago the sellers had all disappeared.  Looks like it is on the move.


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## exgeo (6 May 2009)

May 05, 2009 (minesite.com)

It’s Only A Matter Of Time Before Cashed Up Eleckra Mines Returns To The Spotlight


By Our Man in Oz



Hunting for anomalies is what geologists do for a living - looking for that little something different which might lead to a mineralised structure. Oddly enough, it’s also what investors ought to be doing, because it’s the undetected anomaly which can sometimes lead to a substantial windfall. Because most markets have been horrible for the past year the game of anomaly hunting, for geologists and investors, has been a pretty barren affair, which is why most of us tend to look the other way when something unusual pops up, like, for example, the current valuation of a small Australian explorer called Eleckra Mines. On the market, Eleckra is capitalised at a very lazy A$2 million which, in the boom, was considered a round of drinks in a West End, or Kalgoorlie, bar. The reason that number looks so odd is that the company can demonstrate ownership of minerals in the ground worth A$1.2 billion.
The value gap, or the anomaly, is so wide that a casual observer might be inclined to do exactly what was suggested in the opening paragraph, look the other way. How, it might be asked, could there be a such a wide value disparity at a time when metal markets are re-awakening, courtesy of the economic green shoots sprouting in China, the US, and elsewhere? The answer is that Eleckra remains trapped in a time warp, where most investors, although not the professionals, continue to look at small explorers through glasses coated with a thick film of GFC (global financial crisis). 

Last month, while amateur investors were still wondering whether there really is a recovery underway, Eleckra attracted a fresh A$1 million from a share placement to professional investors. It’s also currently finalising a shareholder entitlement issue which, when complete, will leave it with a total of about A$3 million in the bank – a figure which might be called the second Eleckra anomaly, cash in the bank which is worth 50 per cent more than the company’s stock market value. Fascinated by a company with two anomalies to its name, Minesite’s Man in Oz decided to visit Eleckra’s chief executive, Perth-based Ian Murray, to ask for an explanation. Easy, said Murray. No-one is looking at the small end of the market yet, even though that’s where the best investment returns can be expected at this stage of the recovery. 

“It’s not hard to demonstrate that we are waiting to be re-discovered”, said Murray. “We obviously have the cash in the bank, and we have our foot on one of the most prospective greenstone tenement packages in the Eastern Goldfields of Western Australia.” For readers unfamiliar with Australia, the Eastern Goldfields is the country’s most prolific gold-producing region. Eleckra’s key position encompasses what’s known as the Yamarna Belt, on which it has already outlined a resource totally 749,000 ounces of gold. Not far from Yamarna is Eleckra’s partially owned Thatcher Soak uranium deposit which gives the company entitlement to 6.2 million pounds of uranium. 

The first big question is what’s it all worth? – a relatively simple exercise even for Minesite’s Man in Oz. The answer, using a gold price of US$884 an ounce and a uranium price of US$44 a pound is that very impressive A$1.2 billion (US$932 million). The second big question is when and how will Eleckra convert minerals in the ground into dollars in the bank. This is somewhat harder, but not a show stopper. The uranium, for example, might easily be seen as “metal in the bank” because Eleckra owns the minority portion of Thatcher Soak and while no-one is yet saying as much, it really must only be a matter of time before majority owner Uranex makes an offer which is too good to refuse in order to get its hands on the entire orebody. And, if not Uranex, then somebody else. Murray, unsurprisingly, is quite relaxed about that possible development because he is directing Eleckra into a golden future. 

“Gold is definitely what we’re going to focus on”, Murray said. “Yamarna is well on the way to becoming a company-maker for Eleckra. We have already outlined a substantial resource, and we’re confident of adding to that. We are developing a greater understanding of the structures in the field, and we’re expanding our hold on one of the last under-explored greenstone belts in Australia.” For the uninitiated, greenstone is a semi-geological term for the host rock of much of the gold found in the Eastern Goldfields. In Eleckra’s case it has a unique position in that it has stretched its exploration wings so far that it has been able to secure a dominant hold on an entire greenstone belt, though admittedly a remote one. 

Three events could boost Eleckra’s gold prospects. Firstly, being that remote might not be such an impediment soon because other gold projects in the neighbourhood are moving rapidly towards development. Secondly, that Eleckra’s next phase of drilling at Yamarna is scheduled to start on May 15, and thirdly because there’s a chance that the government of WA might lend a helping financial hand for the company’s remote exploration. Of those, the key factor is the re-emerging science of near-ology. Before dismissing this as a nonsense, the “near” player in this case is the AngloGold/Independence discovery at Tropicana, arguably Australia’s best gold discovery in two decades. Until recently, Eleckra’s Yamarna gold was mainly contained in structures the best part of 100 kilometres to the north-west of Tropicana, but a recently granted 1,100 square kilometre tenement called Golden Sands puts Eleckra virtually on Tropicana’s doorstep. As for government financial help, that could come in the form of a recently launched state government initiative to provide funding for grass-roots exploration, a scheme identical to that operating very successfully in South Australia. 

“Work at Golden Sands will target extensions of the Yamarna shear zones beneath sand cover”, Murray said. “We’re planning regional aeromagnetic surveys and reconnaissance geochemical sampling.” As seasoned followers of the mining industry know, those steps are the early stage of an exploration project, but they are the blue sky in the story of a company which has suffered the indignity of being ignored and is on the verge of a significant return to the limelight. Eleckra has cash in the bank, a very bankable/negotiable uranium asset, a proven gold resource of some substance, and an on-going exploration effort in an under-explored region which is starting to reveal hidden treasures, not least the five million ounce Tropicana gold project. Over the next few months, expect to hear more about Eleckra as the news flow builds.


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## wtang89 (6 May 2009)

Thanks Exgeo for bring to our attention this little potential gem. I will definitely add it to my watch list and observe the stock for a while. Cheers


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## fjear (7 October 2009)

First batch of assays out today with further results due out later this month, seems to be fairly good grades.

Current resource with 749,000 ounce @ 1.78g/t Au, with a likely increase expected by the end of the year.

Capital raising done earlier during the year should see them with enough money for 2010 and a possible sale of there uranium project.

Thoughts?


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## Donga (7 October 2009)

fjear said:


> First batch of assays out today with further results due out later this month, seems to be fairly good grades.
> 
> Current resource with 749,000 ounce @ 1.78g/t Au, with a likely increase expected by the end of the year.
> 
> ...




After re-reading the last two paras in exgeo's post above and today peaking at 0.18 then retracing to 0.105, what else but top up with some Oppies  at around half the price and expiring June 2011.


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## jancha (15 October 2009)

Donga said:


> After re-reading the last two paras in exgeo's post above and today peaking at 0.18 then retracing to 0.105, what else but top up with some Oppies  at around half the price and expiring June 2011.




A high of 21c today before crashing back down to 15c. Pump & dump Or gold fever. Anyones thoughts on this company would be appreciated?


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## jancha (19 October 2009)

YOUNG_TRADER said:


> Buyers not willing to keep going up and sellers practically non-existant, somethings gotta give




A far cry from sellers being practically non existent now. Big turn around with EKM since this was last posted. Are you still holding Young trader & if so what do make of the sudden surge & drop?


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## kgee (25 May 2010)

Like the look of EKM
From Minesite article on the 19/4/10 
http://www.eleckramines.com.au/reports/Minesitearticle-Eleckra19April2010.pdf

“ The company expects to achieve around 500,000 ounces of high-grade metal in the initial resource at Central Bore,”

From the assays already completed I think they'll get pretty close to that figure so.

They already have a JORC resource of 749000 oz @ 1.78 g/t

750,000 oz @ $18 Ev/t (low grade)= 13.5 mi
500,000 oz @ $25 Ev/t (high grade)= 12.5 mil
MC = 26 mil or approx 13 cps  (+ I think they have a couple of million in cash)

 Now at the Hann prospect (where grades up to 429g/t Au  have being found in soil samples and  some are hopeful that it will be larger than Central Bore) if the current drill campaign is successful and we get an extra 500,000 oz
MC = 26 + 12.5 mil
MC = 38.5 mil or 19.5 cps (undiluted)

So plenty of upside and I reckon my Ev/t figures are probably on the conservative side because once you break the 1 million ounce ( JORC) figure the market seems to take a bit more notice. So I reckon EKM is still looking pretty good its just a shame they’re not in West Africa where we could give them an Ev/t of $40

Anyway might be one to put on the watchlist, next set of assays are expected mid June so plenty of scope to sit on the sidelines and watch what the broader market does (IMO)

from announcement:
"The next batch of assays, including the remaining 4 holes and the remaining intercepts from holes 10EYRC0001 and 10EYRC0008 from Central Bore, 6 holes from Byzantium, and 19 holes from Hann is expected in mid June."

NB: My Ev/t figures are guestimates and I calculated sp with shares undiluted...I think there's about 50 mil listed options exercise 7 cents expire may 2011?


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## Assasin (21 September 2010)

Any thoughts on this company? There's a bit of promotion going on at the moment but not much action.


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## Paul24 (1 November 2010)

What are peoples thoughts on this one?
Is the price hike simply because of the report on the 14/10 stating they have found gold? or are there other factors?

Also where do people think it will stop and why?

Because they have actually found gold and its not just some speculation is the price likely to remain high?


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## burlay (9 November 2010)

It looks like they have found a lot of gold (second load of assays due within coming days/week) and they have so far only explored a small portion of their land.


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## Southern X (10 November 2010)

Look at their land positon, ~4100sqkm! Then look at their multiple ZONES!.

Realize this, their land covering the Yamarna greenstone belt is developing into (realize the implications) an Entire Gold DISTRICT!!

And it's just risen today above 30%! News, I must read.

I got into this play because of its soil sampling, land position, and knowledge garnered by the fantastic posters on Stockhouse's ATC bullboard. Atac has a possible Gold DISTRICT in the Yukon! Gold Fields has one in South America and I'm in VEM:TSX which has land along strike. Now this! Mama mia!!

SX

PS See you at $2, $3, $4, $8 and beyond. EKM may be a LIFE CHANGER! I only hope there's no takeover before $15!


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