# GGY - Glengarry Resources



## Epsilon (21 September 2005)

GGY....Glengarry Resources.....
The Molybdenum results (9 pounds per tonne Metal) are exceptionally good!
At a price of $30 per pound at present, Molybdenum is just as precious as Uranium after the recent huge increase in price (from $10 to $30 per pound).
Can you imagine a similar Uranium discovery (9 pounds U3O8 per tonne)?
Such discovery would have sent the Share Price ballistic! Over a $1 easily!!!
And I am not taking into account the very good copper results......
Of-course the Uranium drilling programme continues......
GGY, should, by the Molybdenum results alone, be much....much higher.......And it will be. When the Market wakes up to it!
Cheers)


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## Fleeta (22 September 2005)

*Re: GGY.....Excellent Molybdenum results!*

Sounds good - but is there a market for this product and will they be able to produce profitably? When will this happen? It's all very well to be sitting on some good rocks, but can they get them out of the ground and sell them at a price above the cost.


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## Epsilon (22 September 2005)

*Re: GGY.....Excellent Molybdenum results!*

Fleeta, your observations are valid and to the point.
However, the very same questions apply to all exploration companies, more so at the start of an exploration programme and especially and  a subsequent discovery.....Therefore, answers to your questions, maybe be a bit premature))
Cheers!!!


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## Fleeta (22 September 2005)

*Re: GGY.....Excellent Molybdenum results!*

Thanks for the response.

I don't know anything about this metal, Molybdenum, what's it used in? Who else is mining it?


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## Epsilon (22 September 2005)

*Re: GGY.....Excellent Molybdenum results!*

A quick Google search will acquaint you well with the nature of this "mysterious" (hahahaha ..only joking) metal......China (like everything else...)  are using it extensively....In some instances, Molybdenum, which is used mainly as an alloy is found with Tungsten, another rare and "mysterious" metal.....
Cheers...And have a pleasant afternoon)


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## bvbfan (22 September 2005)

*Re: GGY.....Excellent Molybdenum results!*

Interesting article on Molybdenum http://www.kitcometals.com/commentaries/Reser/sep122005.html


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## Epsilon (22 September 2005)

*Re: GGY.....Excellent Molybdenum results!*

"Interesting article on Molybdenum http://www.kitcometals.com/commenta.../sep122005.html"

Thanks BVB......Very educationally interesting an article re: Molybdenum....
Thanks again mate)
Cheers!!!!!!!!


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## mime (22 September 2005)

*Re: GGY.....Excellent Molybdenum results!*

Is it a rare or common metal? I'll be honest, I've never heard of it. Is it a new discovery?


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## Epsilon (23 September 2005)

*Re: GGY.....Excellent Molybdenum results!*



			
				mime said:
			
		

> Is it a rare or common metal? I'll be honest, I've never heard of it. Is it a new discovery?



Mime.....It's supposed to be rare...It's a metalic element with atomic # 42.
The name derives from the Greek word for LEAD "Molybdos" ....
And no..It's not a new metal discovery......No new metals have been discovered for MANY YEARS...
Cheers......Sleep well))


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## Epsilon (23 September 2005)

*Re: GGY.....Excellent Molybdenum results!*

Looks like GGY is coming back with a vengeance.......
Uranium results next week?????????????????????


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## ihavenoname (25 September 2005)

*Re: GGY.....Excellent Molybdenum results!*

Molybdenum is a great corrosion inhibitor used in many industrial chemical applications. Unfortunately, the 4-5x price increase in raw materials over the past 18 months has meant it is now too expensive to be cost effective. We have been reducing it's concentration in our products for a while as a result. I'd be curious if demand for molybdenum has plummeted industry wide as a result. If not, could be a good find to stumble across...


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## Epsilon (25 September 2005)

*Re: GGY.....Excellent Molybdenum results!*

Nameless......Logic indicates (and proves....) that when a product's price moves from $10 a pound to $34 in 2-3 years (an increase of 240%!!!), it does so because the forces of supply and demand are moving strongly toward a disequilibrium......Now, no kudos for correctly surmising which way they are moving and whether the supply side has been adversely affected......
Cheers!!!!!!


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## Epsilon (26 September 2005)

*Re: GGY.....Excellent Molybdenum results!......Uranium !!!!!!!!!!*

It's Uranium .........It's Uranium..........
Molybdenum and all other metals will be considered as an extra bonus......
Uranium is the discovery (huge????) soon to be announced.......
We will see.......I would not be surprised if the results are tantamount (and even better) to Summit's (SMM).......
Only days to go......We will know.......


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## ihavenoname (26 September 2005)

*Re: GGY.....Excellent Molybdenum results!*

Sorry Epsilon didn't word that too well. Maybe I should re-read before posting.

Was trying to suggest that I will be interested to see what happens with the price of molybdenum in the future. I know in my industry alternatives are already being phased in. I'd assume others would be doing the same after such price jumps.

Now you wouldn't happen to hold a significant portion of this share now would you??? Hehe.


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## Epsilon (26 September 2005)

*Re: GGY.....Excellent Molybdenum results!*



			
				ihavenoname said:
			
		

> Sorry Epsilon didn't word that too well. Maybe I should re-read before posting.
> 
> Was trying to suggest that I will be interested to see what happens with the price of molybdenum in the future. I know in my industry alternatives are already being phased in. I'd assume others would be doing the same after such price jumps.
> 
> Now you wouldn't happen to hold a significant portion of this share now would you??? Hehe.




Nameless....There are certain products, commodities, minerals that can not be substituted my friend.....
Not to mention that (Almost)  EVERY MINERAL  AUSTRALIA EXPORTS HAS SEEN SIGNIFICANT UPWARD MOVEMENT IN ITS PRICE in the last year or so.....
Now....You are not going to tell me ...(in your industry) ......You are just about to replace all of them with.......????????
Hm? With???? Perhaps some......Meteorite-Metals???????

Anyway......I know what you are trying to say......


PS. No...I don't happen to have "a significant portion" of GGY......
Just a few, BUT I expect the price to go higher....MUCH higher in fact,  in which case, even a "smallish"  amount can be construed as....Significant!
Cheers.....


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## ihavenoname (26 September 2005)

*Re: GGY.....Excellent Molybdenum results!*

Molybdenum can be substituted out 100% as corrosion inhibitors in hundreds of different products, mainly with organic phosphonates, but also some forms of nitrates and phosphate/zinc blends are being used. We use about 60% less now than we did 6-12 months ago, and I know of many others with similar #'s. From conversations with supplies we must be one of the largest buyers of it as a raw material in Oz.

I guess my point is that if the demand for moly in Asia does not hold, I wonder what the future will hold since cheaper alternatives are being developed/forced upon us. I will watch with interest... (cant see much changing in a hurry though - gotta love our stainless fridges!)

You would have made a nice margin on the back of todays numbers...


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## bailej03 (26 September 2005)

*Re: GGY.....Excellent Molybdenum results!*

They are only drilling two holes for Uranium u know. Still I guess others go for a run on rock chip samples so if they're good she'll go. Is in Qld but this doesn't seem to matter much with SMM flying.


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## Kauri (26 September 2005)

*Re: GGY.....Excellent Molybdenum results!*

MOL (ex Hibernia I think) with the well known A Forrest at the helm will give the moly supply side a bit of a boost when they come on.


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## Epsilon (27 September 2005)

*Re: GGY.....Excellent Molybdenum results!*



			
				Kauri said:
			
		

> MOL (ex Hibernia I think) with the well known A Forrest at the helm will give the moly supply side a bit of a boost when they come on.




Absolute correct you are Kauri......And what is the Share Price of MOL (Moly Mines) please? About $1.30......From memory they had a high, not long ago, of over $2.00.....
Now, GGY, is, will be, more of a Uranium play, as the results (due any day now) will indicate....Molybdenum, Copper, Silver and other metals in their poly-metalic tenements will come as a bonus....
Cheers)


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## sam76 (30 September 2005)

*Re: GGY.....Excellent Molybdenum results!*

finished up 22%
Confirmed uranium deposits
monday should be interesting


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## sam76 (30 September 2005)

*Re: GGY.....Excellent Molybdenum results!*

check that - up 27%


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## pussycat2005 (3 October 2005)

*Re: GGY.....Excellent Molybdenum results!*

ggy good buy  

heading towards 10 cents

check the charts
and broker reports


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## danc (16 March 2006)

GGY starting to go.bit of a cup and handle on day week and mth,vol under handle,adx trending strong onall charts,weekly looks especialy good,must be somthing going on.bought some this morning at .068.


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## pharaoh (5 July 2006)

Danc, you still in?
Could have a run shortly


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## two40 (7 November 2006)

up ~25% in 5 days on no news. what's the go with this one?

240


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## YOUNG_TRADER (13 November 2006)

I really got hang on to my day trades longer than a few minutes,

I seem to almost always get out with half the profit I could have made had I stuck to my plan

in @ 0.059 out @ 0.061, original sell was at 0.063 which would have been hit, so only 2 points instead of 4

Oh well


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## bigdog (13 November 2006)

YT

GGY have just announced "strong zinc and gold recorded at Greenvale"

ASX 1:14 PM


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## YOUNG_TRADER (13 November 2006)

bigdog said:
			
		

> YT
> 
> GGY have just announced "strong zinc and gold recorded at Greenvale"
> 
> ASX 1:14 PM




Hence the day trade Bigdog, bought straight after ann for a quick profit, sold in a few minutes, point was could have made more but not complaining, 

Thanks anyway though Bigdog


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## moses (13 November 2006)

YOUNG_TRADER said:
			
		

> I seem to almost always get out with half the profit I could have made had I stuck to my plan



Don't we all?


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## Sean K (7 December 2006)

There is still something going on here. Breakout! Again!

One to watch tomorrow for trading op.


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## Sean K (14 December 2006)

This hasn't really gone to script since breaking through about $0.06, but it's still generally going up. 

Anyone on this?

(not me)


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## mmmmining (28 December 2006)

A few things about GGY is making me wonder:

1.They own Oasis Uranium prospect in QLD, which might have 3000-3750t of relative high grade @0.15% (same grade as EME's Bigrlyi), with other potential surrounding area.

2. The company mentioned a possible trade sell for the uranium asset to a third party to realize the company's value.

3. The company mentioned that just a few more drilling is needed to establish a JORC resources.

4. The own a small 21,000t high grade copper deposit, in addition to a number gold and base metal brown/greenfield staff.

I am confused. Nowadays, a lot of companies want to jump on uranium bandwagon, why GGY wants to jump off? By in-ground value, the uranium is much more than the copper. I guess the uranium should be considered as the core asset to keep, not to sell. 

If they want to sell, why don't they drill a few more holes, to have a JORC resources before the sell to maximize the asset value?

If they really have 3000t resources, it could easly worth $20m to $30m dollars! While the EV of the whole company is about $13m.

I have to quote this from Far East Capital:
----"GGY comes across as a genuine exploration company with uranium, gold and copper prospects, it is viewed as corporately naive."----

I don't think that they are that bad. But I am still confused. 

Anyone think it worth a look? It is getting hard and hard to find cheap uranium stock.


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## mmmmining (29 December 2006)

Just have to to look at the company's presentation. It do give a hint about the potential buyer of the uranium assets. MGA.TO.

On slide 11, two MGA.TO' s property were mentioned, the 3000t Maureen deposit, and 5000t Ben Lomond deposit. The Oasis is right in the middle.

I believe another potential buyer is PNN because they have a few lands near Georgetown. 

I guess either company will not pay outright cash.


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## mmmmining (23 January 2007)

This stocks has its run early this month, then in sideway for a couple of weeks. This one looks very cheap if the 3000t uranium deposit is there. 

The question are: Are they going to establish the JORC resources before sell it to a third party? Or GGY will follow THX to keep its uranium asset?


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## Sean K (24 January 2007)

Looks like all time highs are going to be cleared here.


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## kromey (25 January 2007)

Mega Uranium aquires Glengarrys uranium project in QLD.


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## sydneysider (25 January 2007)

kromey said:
			
		

> Mega Uranium aquires Glengarrys uranium project in QLD.




GGY shafted their shareholders on this deal. They leave the table with C$4,912,500 and they become a very micro minnow investment company with no equity interest in the property other than a 1% royalty. I thought that GGY was run as an explorer with multiple JV's. ELL just paid 80,000,000 shares at 19 cents = $15,200,000 for a U property in NW QLd. 

AEE also did a recent deal with Mega which blew away GGY's terms (please see AEE thread).


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## mmmmining (25 January 2007)

mmmmining said:
			
		

> Just have to to look at the company's presentation. It do give a hint about the potential buyer of the uranium assets. MGA.TO.
> 
> On slide 11, two MGA.TO' s property were mentioned, the 3000t Maureen deposit, and 5000t Ben Lomond deposit. The Oasis is right in the middle.
> 
> ...




Another example of stupid directors dirty act. Sell $30m worth of asset for $5m, and consider as hero. Shame on them!!!


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## sydneysider (25 January 2007)

mmmmining said:
			
		

> Another example of stupid directors dirty act. Sell $30m worth of asset for $5m, and consider as hero. Shame on them!!!




The market reacted accordingly and hit the stock. Unfortunately many of the small minnows have rather dull management.


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## mmmmining (25 January 2007)

sydneysider said:
			
		

> The market reacted accordingly and hit the stock. Unfortunately many of the small minnows have rather dull management.



We should send these directors and managers to Jail, minimum five years without   beer.
I am out of this one with smaller profit. I believe people still hold it has a class case against GGY for value destruction.


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## exgeo (25 January 2007)

I'm out of it with a big profit (5.0c>8.5c) but I'm still p*****d off. I'd hoped they were actually going to pick up the ball and run with it rather than pass it on immediately. I'm sure it'll soon be sub 5c again, but with less reason to rise next time (one less interesting project in it's cupboard).


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## mmmmining (25 January 2007)

exgeo said:
			
		

> I'm out of it with a big profit (5.0c>8.5c) but I'm still p*****d off. I'd hoped they were actually going to pick up the ball and run with it rather than pass it on immediately. I'm sure it'll soon be sub 5c again, but with less reason to rise next time (one less interesting project in it's cupboard).



Glad that you run out quicker then me. I only get it out at 7.8c, 7.9c. GGY will be out of my picture completely. Here is quote from James Dines on Dec 22, 2006:

"Australians.... sold their properties for pennies to some of the companies (MGA.TO, LAM.TO), which is one of the main reasons we recommended them (MGA.TO, LAM.TO)"


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## Caliente (26 January 2007)

wow - this is terrible news for GGY shareholders. The directors need to be brought to justice for such a spineless decision.

Good news for myself though - my small portfolio of MGA shares (ex Redport) will surely benefit from the action of the fools at Glengarry HQ.

These grades were great, and needed to be followed up with some kind of JORC before selling...

------------------------------------------------------
Hole          From(m)     To(m)     Width(m)     %U3O8
------------------------------------------------------
05LYD001          54        64           10       0.12
------------------------------------------------------
05LYD002          34        41            7       0.17
------------------------------------------------------
06LYD003          92        97            5       0.15
------------------------------------------------------
06LYD004         170       172            2       0.15
------------------------------------------------------


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## exgeo (19 February 2007)

Interesting to note today's announcement of a renewed interest in uranium. Wonder if that has anything to do with the dramatic collapse in the SP after they sold the last promising-sounding prospect? Also read the face-saving ("the dog ate my homework sir") excuse as to why they divested the last uranium asset. Hopefully if they're lucky enough to get a second chance with uranium, they won't make the same mistake again. I'm not a shareholder any more.


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## TheAbyss (26 February 2007)

Today Dr Leon Pretorius declared that he is the proud owner of 16 million shares (6.82%) in GGY. What impact this people?


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## exgeo (26 February 2007)

Maybe he was among the poor saps who bought for the uranium potential, myself included (he's involved with Deep Yellow). I note that all the shares except for 3.25% of his holding were purchased prior to the idiotic divestment announcement on 25th Jan 07. The last 500m shares were purchased on the day following the announcement.


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## krisbarry (26 March 2007)

Breakout with large volume.

Also note uranium drilling underway in QLD, NT and W.A.


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## alankew (26 March 2007)

Stop the clock or anybody else-posted this on the breakout thread a few days back then bought the day after. What is the position if a company answers the asx saying basically no reason for price increase - how long after such an increase can they release news and not be in trouble? Anyone know the reason for price increase-mentioned in my post about drilling in March also QLD change in stance on U-anything else?


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## krisbarry (26 March 2007)

Speeding tickets nowdays mean very little.  It might frighten a few punters away, but like so many other resource stocks that are given speeding tickets, they rise again the very next day or two.

Doubt there will be any follow up announcement for at least a week or two, so again, just enjoy the upward movment over coming weeks while the drilling and exploration takes place.

The announcement states the quality of the company... must mean there is some awesome stuff in the ground.


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## krisbarry (27 March 2007)

...as I predicted...speeding ticket has done very little to stop GGY.

All morning we saw GGY down, and now things are turning, and ready for the next leg up.

It is quite amamzing how stocks are becoming immune to the ASX queries, especially the resource stocks.


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## krisbarry (28 March 2007)

Running hard this morning, nice to see.


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## krisbarry (29 March 2007)

Breakout occured this morning at 15 cents and its running hard again.


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## Sean K (29 March 2007)

Stop_the_clock said:


> Breakout occured this morning at 15 cents and its running hard again.



Breakout happened a few days ago.


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## krisbarry (29 March 2007)

Yes true, I was looking at the intraday share price, sorry I should have been a little more specific.

The intraday share price has bounced around the breakout for a few days now.


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## krisbarry (30 March 2007)

Excellent presentation made by GGY on boardroom radio.

Drilling to commence very shortly to firm up resources at Greenvale and Maitland. Early results due around end April 07.

MD states that the company is well funded and will not have to go back to the market for capital if the drill results show promise that can be developed.

This is a very big plus and will ensure that the stock on issue remains at low(ish) levels, which in turn will provide the leverage of any positive announcements. Looking forward to where we will be by June. Market cap very low at $30M. It will explode on news. 4 company making projects under way. Fingers crossed.


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## zaskar (16 April 2007)

Announcement on uranium licences... although not the huge explosion in SP as you might expect.  Perhaps this was already factored into the price?


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## Wysiwyg (16 April 2007)

exgeo said:


> I'm out of it with a big profit (5.0c>8.5c) but I'm still p*****d off. I'd hoped they were actually going to pick up the ball and run with it rather than pass it on immediately. I'm sure it'll soon be sub 5c again, but with less reason to rise next time (one less interesting project in it's cupboard).





Interesting to read older posts and current share price levels.

After reading this it really brought to my attention that I make `most` of my decisions to trade on what *I think* will happen.

Sold out of WMT 14 c because I thought they had no substance and plenty of hype.

I now reinforce the fact that price action knows more than me.c:  

Zaskar...maybe the W.A. U mining policy is a factor there.


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## alankew (30 April 2007)

Link here for  deal involving Mega http://www.uranium-stocks.net:80/mega-uranium-acquires-advanced-uranium-project/  Havent had chance to look yet but Mega could be on the lookuot still for an Australian U company(not necessarily GGY)


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## Mousie (3 May 2007)

Time will tell if Dr Pretorius is a canny investor, this guy. Just bought a swag of em GGY heads early this year and taking profits now. Maybe something's up, or _just_ taking profits? He sold the entire shebang off...


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## kromey (3 May 2007)

Mousie said:


> Time will tell if Dr Pretorius is a canny investor, this guy. Just bought a swag of em GGY heads early this year and taking profits now. Maybe something's up, or _just_ taking profits? He sold the entire shebang off...




The good Doctor still owns 9 million GGY shares. GGY is drilling right next to KZL in QLD at the moment.


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## tech/a (21 June 2007)

*GGY*

Like the way this is moving out of a 61.8% retracement.
First chart shows commentary relative to the lack of selling pressure --supply and then the consequent breakout on volume.







Second chart shows the commentary on the breakout bar note the low volume on todays bar indicating a lack of supply.






Elliott analysis from AGET.
If "B" is taken out (Red Arrow) then confirmation of beginning of final wave 5 in this pattern.
Inital Targets Pink and Blue MOB (Make or Break) custom indicator 32c
Fib Extension of Wave 1 30c

Never used the Time lines in Get but they have it (the move) ending at 
between 25/7 and 20/8






Thought it maybe of interest to follow.
Any trading below the low at 12c and the analysis will have been proven to be incorrect.


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## vert (3 July 2007)

hi teck/a was wondering what you make of the last weeks action, has bounced of 0.12 again and all my indictors that i follow look good for some movement up. buy side also filling up. 

i have bought a parcel today after reading through announcements as there seems to be some more results coming soon.

off to work now so will check this out later cheers


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## rub92me (3 July 2007)

Took a small position in this yesterday, once it looked like buyers were coming back in. I liked the announcement today that 250,000 15 cents options were exercised out of the money (the other half they let expire), which is sending a good signal to the market. If it drops below 12 cents I'm out.


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## Descartes (26 July 2007)

Recent announcements by GGY seem to show very positive results yet the share price is still languishing. The company seems to be well run and I have been a long term holder but not sure when we might see any long term movement. I had thought that recent moves to around .20 might establish a floor but not so. Any thoughts anyone?


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## krisbarry (18 September 2007)

Quite a large volume of shares changed hands yesterday, well over 4 million.  Something seems to be up here.

No announcement yet, but I suspect we will see something today or tomorrow.

Current share price 13 cents

Below is a 6 month chart of GGY


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## greenfs (18 September 2007)

Possibly a significant factor in the volume and strength in the sp yesterday was an article written by Garimpiero in the Monday Age. I bought some on the strength of the article with an intention to hold at least through to the end of this calendar year.


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## mr_fred (14 October 2007)

Just wondering what peoples thoughts were of the huge buys that went through at close of market on friday. Actually all day there were big buys on market taking out the 14 - 15cent walls. Is it KZL, getting more stock before Maitland is drilled any theories out there?


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## vert (15 October 2007)

yeah fred noticed it had a little bit of interest come in at the last min of the day and bought some myself, expected the gap to get closed today and probably run in the arvo but has anyone noticed the 2 big orders just been placed, 5000000 @ 0.002 and 10000000 @ 0.001. looks to be some manipulation going on, will be watching closely to see how this affects the sp.


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## Captain_Chaza (15 October 2007)

Permission to come aboard!

Looks like a Potential breakout?
Sorry but I forgot where that thread is filed

Salute and Gods' speed


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## STRAT (15 October 2007)

Captain_Chaza said:


> Permission to come aboard!
> 
> Looks like a Potential breakout?
> Sorry but I forgot where that thread is filed
> ...



Here it is Captain https://www.aussiestockforums.com/forums/showthread.php?t=835


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## chennyleeeee (19 October 2007)

Just an update: This stock broke resistance at 0.155 recently and has today towered on to 0.185 on strong volume. It would be interesting to see how this stock goes on Monday, I have an initial target at 0.22 but that doesnt mean I will sell it if it reaches there. It might be ready to make new record highs.

CHEN


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## happytown (10 March 2010)

GGY (merged with CUR and soon to be renamed CTM)
shares 589,385,087 (based on most recent app 3b)
options 101,009,392
total 690,394,479
sp .07
mc $48.328M (fully diluted)

cash at end of 4th qtr $8.673M
(est cash outflow this qtr $500K)
nil debt

EV $39.655M​
projects

Brazilian Fe projects

Itambe Iron Ore Project, Passabem Iron Ore Project, Liberdade Iron Ore Project (currently subject to legal action), Ferros Iron Ore Project, Serra do Bicho Iron Ore Project, Guanhaes Iron Ore Project, Rio Pardo Iron Ore Project, Itamarandiba Iron Ore Project

Itambe Project (1mtpa project - $20M cashflow pa)

50-83km from large smelters
20km from Vales Itabira Project (65 mtpa)
jorc inferred resource estimate 15.5Mt @ 37.2% Fe, 39.9% SiO2, 3.7% Al2O3, 0.055% P, 2.04% loi
mid '09 18 hole, 686m diamond core drilling program, results incl:
1.95m @ 53.18% Fe,
7.8m @ 50.57% Fe,
8.5m @ 45.03% Fe,
3.05m @ 44.88% Fe,
2.2m @ 44.63% Fe,
6.2m @ 42.8% Fe,
8.2m @ 42.1% Fe,
1.3m @ 40.0% Fe,
2.7m @ 39.9% Fe,
9.65m @ 39.36% Fe,
2.45m @ 38.26% Fe,
12.0m @ 35.1% Fe

scoping study for Itambe:

Stage 1 180Ktpa, stage 2 500Ktpa into the domestic Brazilian steel industry (note proximity to smelters - mine gates sales)
Capex for stage 1 US$1.15M, stage 2 US$11.02M
Stage 1 operational costs US$13.38/t, stage 2 operational costs US$12.91/t; gross operating margins $16/t; Project NPV (8% real) $19.6M [based on exchange rate BRL:USD 0.588, USD:AUD $1.094]

(note from recent preso total operating cost $14t v sale price approx $34t, capex $17M)

Passabem Project ( 1mtpa project)

52-63km from states largest smelters
jorc inferred resource estimate 2.6Mt @ 31.2% Fe, 48.9% SiO2, 2.9% Al2O3, 0.035% P, 1.16% loi
expl target 15-25Mt @ 30-33% Fe
mid '09 9 hole, 1,000m RC drilling program, results incl:
21m @ 33.07% Fe from 20m,
14m @ 32.01% Fe from 7m,
10m @ 31.95% Fe from 42m,
23m @ 31.43% Fe from 11m,
19m @ 31.25% Fe from 30m,
16m @ 31.13% Fe from 20m,
14m @ 31.04% Fe from 24m,
9m @ 30.71% Fe from 32m
only 10% of strike length currently drilled

Liberdade Project

jorc inferred resource estimate 5.31Mt @ 37.0% Fe, 43.52% SiO2, 2.21% Al2O3, 0.03% P (currently subject to legal action)

summary

Fe production by 2011
3mtpa sold domestically by end 2013 (anticipated op cashflow $60m pa)
goal of acquiring or identifying (through expl of current holdings) a project capable of producing 12-15mtpa @ 64-69% Fe with mine life of 10 yrs

management

MD, Chairman, Ops director and neddy - ex GBG; another neddy - ex AGO; Ops director also - ex BHP

plenty of Fe experience there

other projects incl gold prospects

DYOR


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## enigmatic (18 March 2010)

Was lucky enough to get on to CUR when they were reasonably priced, so have only just started following the new GGY -> CTM however.

happytown the info you posted is the exact reason why I invested it now that they have merged the combined company has the cash to pay for there project development and exploration over the near term. 
So most likely no real need to raise capital for now.

the first project with a capex of 1.15mil for stage 1 looking at your figures stated I can only assume they are on current contract prices, with a possible 90% price hike in iron ore I'm sure this will have a huge impact on Profit already easily covering the capex within about the first qtr of full operation.

Definitely one to watch strong run up from 5cents to well over 8cents recently.


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## enigmatic (22 March 2010)

For a specy Iron ore play who are very likely going to be a producer near term.

I'm surprised there isn't more talk interest from this forum.
well I thought I post the recent chart was expecting some resistance arround 9.2cents will be interested if it breaks the 10cent range.


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